Master Kang to buy Taiwan's biggest cable TV network for 14.8 billion yuan

local time August 24, people familiar with the matter told Reuters that the Wei family in Taiwan, China, agreed to buy Taiwan's largest cable operator, the Taiwanese MBK network, while shouldering its debt at about $2.4 billion trillion (about 14.8 billion yuan), from private equity funds. The Wei clan is Hong Kong listed Master Kang Holdings Limited (00322. HK) 's controlling shareholder is also known as Master Kang's brand owner. Anonymous sources stressed that the acquisition is a collection of other Taiwanese funds to make personal investment behavior. The takeover will also await approval by Taiwan's regional regulatory authorities. At the end of the deal, the network is expected to have about 1 billion U.S. dollars in debt.　China Ka Network is Taiwan's largest cable TV and broadband system operators, with 1.2 million subscribers, the market share of about 20%. Earlier in 2010, the MBK fund tried to sell China's network to its companies, but the deal could not be reached when regulators extended censorship and approval conditions. Wang Wang Group is China's largest producer of rice cakes, and has a media group in Taiwan.　People close to the situation pointed out that the Wei family's acquisition by personal investment and never dabbled in other media industries cleared the way for the approval of Taiwan's regulatory authorities. The MBK fund invested in the China Ka Network in 2007, holding 60% of its shares.　　The fund company invests mainly in Asian companies, with more than $6.3 billion trillion in managed assets. Morgan Stanley is the investment bank adviser to the MBK fund, while the Wei family's investment bank advisers are UBS group. Two investment banks declined to comment on the takeover.