FTC also conditionally approved the merger application filed jointly by Chunghwa Telecom, Taiwan Mobile, Asia Pacific Telecom, VIBO, EasyCard Corp., and Far Easton Telecom for their establishment of a joint venture company (“JV company”) to operate Trusted Service Management (“TSM”) platform.  FTC found that the joint establishment and operation of the TSM platform should not affect the competition among the applicants in the mobile service market, but may have the effect of excluding the competition from other new-coming enterprises in the mobile payment market in the future after the market becomes more mature.  FTC thus imposed a total of 11 requirements on the approval, including requiring the total percentage of the voting stock or capital of the JV company held by the participating telecom companies be reduced to less than 1/2 after four years of establishment of the JV company, prohibiting the JV company and the participating enterprises from refusing investment or withdrawal of investment from their horizontal competitors in the JV company, etc.