Carlyle Plan to Sell Taiwan's Kbro Stake Said to Have Stalled

Carlyle Group's planned sale of a $1 billion stake in Kbro Co. to Taiwan Mobile Co. may be delayed until the government eases restrictions on state ownership of media companies, two people involved with the discussions said.

Taiwan Mobile, which the government partially owns through Fubon Financial Holding Co., may extend the June 30 deadline to buy control of the cable-television operator, the people said, asking not to be identified because of confidentiality agreements. Neither side expected the restrictions to obstruct the deal when negotiations began last year, the people said. The rules hamper Taiwan Mobile's plans to pass China Network Systems Inc. and Taiwan Broadband Communications to become the largest operator in a market where more than 80 percent of homes tune in to cable TV. The National Communications Commission is in talks with the Cabinet to allow government-related entities to indirectly own as much as 10 percent of media companies, Commissioner Lee Ta-sung said.