View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
March 2, 1999


By CBR Staff Writer

Hong Kong Telecommunications Ltd said yesterday it has purchased a Taiwanese internet service provider for NT$157.25m ($5m). HK Telecom now owns 85% of FIC Network Services Inc, formerly a division of TiawanÆs First International Computer Inc, which retains a less than 15% stake in the ISP. The acquisition is HK TelecomÆs first internet investment outside Hong Kong, but chief executive, Linus Cheung is reported in the Asian press as saying it will not be the last. We are looking for a number of investments not confined to ISPs in Asia, Cheung said. The move is in line with parent company Cable & Wireless PlcÆs purchase of MCI CorpÆs US internet business in July last year for $1.7bn in cash. Cheung said the purchase of FIC Network Services is part of the groupÆs global strategy for global internet services development.

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.