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Taiwanese Company Sale Sparks Taipei Protests

Posted: Nov. 28th, 2012  |  By Michael Pearse
Apple Daily

In a move that would go all but unnoticed in the west, aware and concerned citizens in Taiwan have taken to Taipei's streets in protest against a controversial deal that will see Hong Kong's Jimmy Lai transfer a sizable portion of Taiwan holdings to a pro-Chinese business group. Several major media outlets will move into the hands of the new group, a concern for many Taiwanese citizens.

The expected sale by Hong Kong media mogul Jimmy Lai of his Taiwan holdings to a group that includes an outspokenly pro-China businessman has sparked protests in Taipei. Demonstrators fear the deal will greatly expand Chinese influence on the democratic island.

Lai spokesman Mark Simon said he expected the Taiwan dollars 17.5 billion ($601 million) deal to be signed late Tuesday in Macau.

It involves the sale of the Taiwanese editions of Apple Daily and Next magazine, as well as Next TV to businessman Tsai Eng-meng, banking scion Jeffrey Koo Jr., and Formosa Plastics Group president Wang Wen-yuan.

Read More on kentucky.com

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