Taiwan officials have reiterated that the government will not approve China Mobile Communications' investment in local carrier Far EasTone Telecommunications (FET) because of legal restrictions.
Officials from the National Communications Commission (NCC), the Ministry of Economic Affairs (MOEA), and the Mainland Affairs Council (MAC), told lawmakers during a question-and-answer session on May 7 that the government will not approve the China-based mobile communications giant's investment in the local carrier, which is part of the strategic partnership formed between the two companies on April 29.
Because FET and China Mobile only signed a memorandum of understanding instead of a contract for the planned investment, NCC will not take any action for the time being, the officials said.
As for FET's plan to set up a joint venture with China Mobile in China, which is another part of their partnership, NCC may give a nod but will set a cap on the amount of investment in China by Taiwan-based telecom carriers, the officials noted.
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