China Network Systems, Taiwan's largest cable TV operator, has decided to sell itself to MBK Partners, in a deal expected to fetch up to $1.6 billion, according to media reports on Monday.

CNS hopes to sign a deal sometime this week, with the expected price tag at $1.6 billion, the Asian Wall Street Journal reported, citing people familiar with the matter.

The deal would equate to T$45,000 (US$1,360) per subscriber, with a total price expected at T$51 billion, Taiwan's Economic Daily reported separately.

MBK, a private equity firm founded last year by a former Carlyle Group partner, along with Newbridge Capital, were the two finalists in the bidding for CNS, according to previous media reports.

Others interested in the purchase included KKR and the private equity arm of Goldman Sachs.

CNS holds about a 27 percent share in Taiwan's cable TV market, Asia's third largest behind Japan and China.

The auction is being handled by Morgan Stanely.