A PYMNTS Company

Taiwan: Mega tech merger postponement means sharp stock declines

 |  June 11, 2013

Stocks for two major technology companies plummeted Tuesday following reports that their proposed merger could be postponed until 2016. China’s largest handset ship designer MediaTek and the world’s largest flat screen television chip supplier Mstar have already put their merger on hold twice since last January. The companies continue to await regulatory approval from various countries around the globe. Now, according to local media, the two may wait even longer to continue with the deal, though the first paper to report the news – Economic Daily News – did not cite its sources. As a result, MediaTek shares dropped 2.53 percent and MStar’s fell by 6.48 percent. MediaTek assured the news was purely speculation.

Full Content: Taipei Times

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.