Taiwan eyeing sale of stake in state-owned carrier

Taiwan plans to trim its stake in Chunghwa Telecom , the island's top telecom carrier, in an overseas stock sale, a Reuters report said.

The Reuters report quoted Central News Agency saying that the move, together with a stock sale at home and a capital-raising plan, came as the government aimed to raise a total of NT$52.8 billion (US$1.7 billion).

The Ministry of Transportation and Communications owns about 35% of Chunghwa and the cabinet said last week the government planned to maintain a stake of at least 30% in Chunghwa.

The government is raising the money to fund a slew of government projects, which will help boost Taiwan's domestic consumption and economic growth, the Reuters report further said.

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