The report goes on to mention the transaction will mark the largest cable TV deal in Asia.
Special assistant to GM at Want Want Chao Yu-pei confirmed the agreement and said CNS is to acquire a 60 per cent stake in CNS from private equity group MBK Partners. MBK acquired its stake for approximately US$1.5 billion in 2007.
The deal is subject to regulatory approval as a number of cross-border mergers and acquisitions deals have recently been held up or blocked, according to the report.
The acquisitionWant Want chairman Tsai Eng-meng's expanding media portfolio in Asia, including Taiwan's China Times Group and shares in Hong Kong's Asia Television.
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