7 Dec, 2007
Taiwan's National Communication Commission (NCC) has approved an application by Cayman Islands-based Com2B, a provider of e-commerce solutions, to invest NT$60 million (US$1.86 million) in licensed WiMAX operator Global Mobile, according to an NCC announcement.
The equity investment from Com2B will account for a 5% stake of Global Mobile's initial paid-in capital of NT$1.2 billion, according to a capital formation plan released earlier by Global Mobile.
Global Mobile has also attracted investments from a number of companies, including Era Digital Media, Videoland and Soft-World International.
However, Global Mobile might have difficulties soliciting enough of the minimum capital required by the NCC for the commencement of WiMAX service. So far the company has gathered only 10% of the capital needed for its initial capital formation plan, according to a Chinese-language Commercial Times report.
The NCC has issued six WiMAX licenses in Taiwan with each licensee requiring to put up a minimum paid-in capital of NT$1 billion before the end of this year. The NCC also offers a grace period of three months for the formation of the minimum capital, if necessary.
