International private equity groups and Taiwanese companies have expressed interest in the sale of China Network Systems, Taiwan's leading cable television company, according to a person close to the deal.
MBK Partners, the pan-Asia private equity fund, is putting its 60 per cent stake in CNS up for auction, with first round bids due in early August. It bought the stake for about $1.5bn in 2007 and is looking for a deal that it expects will value the company at $2.2bn
Taiwan's cable TV market, which has the highest profit margins in Asia, has seen a surge of deal activity as foreign investors who flocked to the sector in 2007 look to recoup their investments.