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Qisda Shelves Plans of 35% Stake Acquisition in Eastech

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Qisda (TPE:2352) terminated its proposed indirect acquisition of an approximately 35% stake in Eastech (TPE:5225) after the parties failed to reach an agreement on the transaction terms, according to a Tuesday Taiwan Exchange filing.

The company had announced in January that it planned to acquire 100% of Above Vantage, a deal that would have given it an indirect interest in Eastech through an investment valued at about NT$3.2 billion.

Qisda said the proposed investment will not proceed, following a review of the transaction details.

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