Taiwan’s Wei Family Said to Buy MBK Stake in Cable Operator CNS

Taiwan’s Wei family, which controls Ting Hsin International Group, agreed to buy a majority stake in cable operator China Network Systems for about $2.4 billion including debt, people familiar with the matter said.

The Wei family bought the majority holding in CNS from MBK Partners Ltd., a private-equity firm founded by former Carlyle Group executives, the people said, asking not to be identified because the deal is confidential. The fund will seek regulatory approval for the transaction, the people said.