Taiwan's Wan Hai Lines has increased its stake in the country's biggest phone company.

It acquired 2.97m more shares in Chunghwa Telecom at TWD 104.86 each for a total spend of TWD 311.96m ($10.14m), it said.

Wan Hai now has 18.98m Chunghwa shares, still less than 1% of the company.

It said the move was a "short-term investment."

The trades were made between November and February.