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Tsai Eng-meng funds HK station

Tsai Eng-meng funds HK station

Taiwanese billionaire Tsai Eng-meng is set to inject funds into Hong Kong broadcaster Asia Television (ATV), the South China Morning Post reported on Thursday, citing unnamed sources.
Tsai signed a preliminary agreement last week to become a key shareholder of Alnery, a company that controls 47.58 percent of ATV, it said.
Tsai and his family are believed to have bought ABN Amro's stake in the company, it said, without specifying the size or potential value of the stake. Alnery is jointly owned by Payson Cha's family, ATV's dominant shareholder, ABN Amro and former ATV chief executive Louis Page.
Tsai is chairman of Hong Kong-listed Want Want China, one of China's biggest snack makers. Tsai and family members in November reached an agreement to buy Taiwan media firm China Times Group for an undisclosed amount.