Billionaire Asian family looks set to buy TV group

One of Asia's wealthiest families is expected to further diversify away from its core business with the purchase of Thailand's biggest cable TV operator from private equity firm the Carlyle Group.
 
The Tsai family, who made their fortune in finance, is thought to be bidding more than $2 billion for the business, called Kbro.
 
A report in the Financial Times said second-generation chairman Daniel Tsai of Fubon Financial, one of the family's biggest businesses, said talks with Carlyle "in the direction of private investment" have taken place to get over regulatory hurdles concerning cross sector ownership restrictions in Taiwan.
 
Citing sources, the FT report said that the family would pay in cash to buy Kbro and take on the company's debt.

The Tsai family's wealth, which according to Forbes stands at $4.9 billion, stems from Fubon (formally Cathay) Insurance, which was founded by Daniel's father, Wan-tsai Tsai, in 1961.

The family also has interests in real estate, telcoms and the media.

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