Stock Exchanges Are in Talks to Buy Stake in Taiwan Board
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The exchange, Asiaâs seventh-biggest equities market, planned to sell a stake of as much as 25 percent of itself to overseas bourses.
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Singapore&#39;s state-owned Temasek Holdings   has approached Nasdaq  to buy its 30 percent  stake in the London Stock Exchange , a newspaper  reported on Sunday.
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(InfoWorld) - Taipei may have to rethink its China investment policies in the wake of an offer by a foreign group to buy the world's largest chip assembly company, Taiwan's Advanced Semiconductor EngineeringÂ (ASE). Part of the attraction of the deal is that by changing ownership, the company would cease to be Taiwanese, and therefore be allowed to invest in China as it pleases, pundits say. The trouble for many Taiwanese chip makers in recent years has been the tight leash Taipei keeps on technology investment bound for political rival China. Taiwan and China remain enemies after splitting in 1949 amid civil war. The island fears China could use chip technology to bolster its military capabilities against Taiwan. Despite the strained relationship and tough investment rules, China remains by far the favored destination for Taiwanese investment due to their shared language and culture, and China's lower costs and huge potential market. The deal for ASE, a $5.5 billion offer from a consortium led by the private equity firm Carlyle Group, would be a huge positive for ASE, transforming it into a foreign entity and allowing it to build chip assembly plants in China, according to Fubon Securities. Currently, ASE has no chip assembly investments in China, despite the fact that earlier this year Taipei gave a green light to chip makers to invest in low-end chip assembly. Despite the apparent opening, not a single application has been approved by Taipei, and companies remain unsure of how to proceed with such investment. Analysts argue that the approval process remains very much subject to politics in Taiwan, due mainly to the rivalry with China. A foreign takeover such as the one Carlyle and ASE are discussing would remove such political pressures and put China investments on the fast track. Indeed, theÂ embattled former chairmanÂ of chip foundry giant United Microelectronics, Robert Tsao, was quoted by local media as saying the possibility of such buy-outs excited him, and that UMC would welcome similar offers. Tsao is a prime example of the difficulties Taiwanese tech companies and executives face when investing in China. He and another key UMC executiveÂ resigned early this yearÂ after beingÂ indicted by Taiwanese prosecutorsÂ over their alleged role in the establishment of Chinese chip maker, He Jian Technology (Suzhou). The court case is still being heard. The government began investigating UMC over He Jian a few years ago, and fined UMC for failing to apply for permission to work with He Jian. Taipei has also leveled fines on UMC and He Jian executives. Tsao and his colleagues maintain that they have done nothing wrong. For its part, the government plans to review the possible ASE deal over its potential impact on the Taiwan Stock Exchange, since the company would likely be de-listed if it is purchased by Carlyle. Economics Minister Chen Ruey-long on Monday said Taipei needs to keep on top of the issue in case it becomes a trend, because such purchases could have long term effects on the economic development of the island. The review has nothing to do with China policy, he said.
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South Korea's National Pension Service is interested in buying a majority stake in Korea Exchange Bank (KEB) from Lone Star, but has had no formal talks with the U.S. investment firm, a senior fund executive said.
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Temasek Holdings , the Singapore government-owned investment agency, has approached Nasdaq  to buy its 30 percent stake, worth 800 million pounds ($1.6 billion), in the London Stock Exchange , a newspaper reported on Sunday.
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Dow Jones & Company board members met with Ronald W. Burkle and Brad Greenspan, who are interested in buying a piece of the company.
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The Tokyo Stock Exchange is in talks about forming a possible alliance with the Chicago Mercantile Exchange, an exchange official said Thursday, one day after the Asia's biggest bourse announced a cooperative agreement with the New York Stock Exchange.
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Fairchild Semiconductor and Himax TechnologiesÂ both completed steps this week that finalize, or nearly finish, their bids to buy Taiwanese chip makers.
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By George Hsu  Taiwan stocks, laggards in Asia since 2001, could catch up with regional markets next year as new products spur demand for video game consoles, computers and semiconductors.
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The Deutsche Boerse wants to convince  London Stock Exchange management over the next two to four  weeks to back its offer to buy the business, a supervisory  board member told Reuters on Sunday.
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Lazard&#39;s board is set to meet to consider a sale of shares to the public that could end a long history of private ownership at the independent investment bank and possibly buy out the bank&#39;s founding family.
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The Instinet Group, owner of one of the largest electronic stock trading systems, is for sale, executives briefed on the plan say.
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NYSE Euronext  and Australia&#39;s  ASX Ltd  may be interested in buying some or part of  Nasdaq Stock Market Inc&#39;s  stake in London Stock  Exchange Plc , a person familiar with the matter said on  Monday.
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Citigroup will buy Taiwan's Bank of Overseas Chinese (BOOC) "very soon", an executive of the Taiwan lender said on Thursday, in a deal media said would be worth US$425 million.
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Dow Jones & Co. Inc.  said on Wednesday its board will take over negotiations related to a $5 billion takeover offer from Rupert Murdoch's News Corp. , a move that could bring a quicker resolution to the talks.
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Citigroup will buy Taiwan's Bank of  Overseas Chinese (BOOC) "very soon," an executive of the Taiwan  lender said on Thursday, in a deal media said would be worth  US$425 million.
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The telecommunications company is said to be in negotiations, in what may be the latest round of deal making in its industry.