Taiwan government opposes sale of stake in skyscraper
The sale of a stake in a Taiwan skyscraper may have hit a snag, as the government of Taiwan opposes the sale to a foreign company.
Ting Hsin International Group recently announced an agreement to sell the 37.1 percent it owns in Taipei 101, formerly known as the Taipei Financial Center Corp., to Malaysia’s IOI Properties Group. The sales price for the 101-story skyscraper located in Taiwan for about NT$25.14 billion ($808 million).
The acquisition had to be approved by the government of Taiwan as it involves a foreign business. On Dec. 8, Reuters reported the Taiwan government was opposed to foreign control of the landmark. Taiwan’s Investment Commission stated it