Orange reduces BITCO stake

30 Sep 2004

Mobile group Orange has completed the disposal of a 39% stake in Thai holding company BITCO, a subsidiary of fixed line operator True Corp, as part of an agreement struck in March. Orange transferred the shares to its fellow shareholders in the company in return for being released from its obligations and liabilities in regard to a bridge loan facility granted to BITCO’s cellular subsidiary True Mobile. It retains a 10% holding in BITCO.

Thailand, True Corp, True Move