Taiwan-based 3G carrier Far EasTone Telecommunications (FET) plans to consolidate its fixed-line operating subsidiary, Sparq, in 2010 at the earliest in order to optimize resources, according to Jan Erik Nilsson, vice chairman and president of FET.
Sparq posted after-tax losses of NT$2 billion (US$60.8 million) on consolidated revenues of NT$9.22 billion in 2008, but is expected to break even or even generate profits in 2009 following its acquisition of the Taiwan-based ISP, SeedNet, in March.
FET and parent company Far Eastern Group currently holds a 52% stake in Sparq, while Taiwan-based Uni-President Enterprise and the China Development Industrial Bank are two major corporate shareholders each holding a 9% stake, according to Sparq company data.
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