Taiwan Mobile Co., Ltd. (TWSE:3045) agreed to acquire Taiwan Star Telecom Corporation Limited for TWD 28.4 billion on December 30, 2021. Under the terms, Taiwan Mobile will issue 282.2 million shares with exchange ratio of 0.04508. As of February 24, 2023, Taiwan Mobile will issue 204.039196 million shars for an exchange ratio of 0.0326. Transaction will be financed with issuance of new shares. Transaction is subject to approval from Taiwan Star Telecom, National Communications Commission and Fair Trade Commission. After completion net worth per share and earnings is estimated to rise in the future. Transaction is expected to close on December 31, 2022. Audry Ho of Ernst & Young, Taiwan acted as accountant for Taiwan Mobile. Regulators have not yet completed the approval process of the merger as of September 30, 2022, which is the target completion date. If regulatory approvals are not received by December 31, 2022, TWM has the option to extend the contract, upon agreement by Taiwan Mobile and Taiwan Star Telecom Corporation. As of December 31, 2022, the merger has not yet been approved by the competent authorities. According to the agreement, Taiwan Mobile and Taiwan Star Telecom Corporation may extend the period and negotiate the relevant matters. As of January 18, 2023, the transaction has received conditional approval from National Communications Commission. The transaction has been approved by Fair Trade Commission on October 12, 2023. Hsiang-Ning, Hu of Yangtze CPAs & Co acted as accountant for Taiwan Mobile Co., Ltd.

Taiwan Mobile Co., Ltd. (TWSE:3045) completed the acquisition of Taiwan Star Telecom Corporation Limited on August 4, 2023.