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Chunghwa Telecom Said to Buy Stake in Innovation Works

Posted on: Tue, 09 Feb 2010 06:22:30 EST

Symbols: CHT, GOOG

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BEIJING, Feb 09, 2010 (SinoCast Daily Business Beat via COMTEX) --

Today, Chunghwa Telecom will hold a director meeting to discuss the investment case. A day earlier, reporters tried to contact with the company's board chairman Shyue-Ching Lu and general manager Shaio-Tung Chang. However, they have not answered the phone calls.

Innovation Works' long-term goal is to incubate five new Chinese high-tech companies a year. The company has received capital inputs from Terry Gou, board chairman of Foxconn Technology Group; Liu Chuanzhi, president of Legend Holdings Ltd.; Steve Chen, founder of YouTube; and Peter Liu, board chairman of WI Harper Group.

Actually, as early as 2007, when Kai-Fu Lee was still the president of Google Greater China, he visited Taiwan and inked a memo with the former board chairman of Chunghwa Telecom, according to which both parties would cooperate in terms of location orientation and mobile online search.

Source: www.thebeijingnews.com (February 09, 2010)

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