Far Eastone Telecommunications (FET), New Century InfoComm Tech (Sparq) and Digital United, the operator of Taiwan's second largest ISP SeedNet, will integrate their operating resources to form the Far Eastern Telecom Group (FETG) while maintaining their respective individual corporate status, in a bid to enhance their business operations, according to a joint press conference on March 13.
FETG will be the telecom subgroup under the Far Eastern Business Group of which the three companies are affiliates. Douglas Hsu, chairman of FET, will be the president of FETG.
Through the integration of the operating resources of the three companies, FETG will be organizationally made up of four business units – mobile services, value-added and multimedia services, home-use services and business-use services.
FET, Sparq and SeedNet have set aside budgets of NT$8.9 billion (US$290 million), NT$1.3 billion and NT$200 million, respectively, for capital expenditure in 2008. FET will use a large portion of its budget to expand its HSDPA network with most of the remaining amount to be used to set up an initial WiMAX infrastructure.
Article translated by Adam Hwang
