TOT-CAT relations finally thawing?

17 Jun 2005

The long running stand-off between Thailand’s state owned fixed line operators concerning their mobile joint ventures could finally be coming to an end, according to local daily The Nation. The paper quotes TOT Corp chairman Teerawit Charuwat as saying that his company will take full ownership of minority cellco Thai Mobile by buying the 42% stake in the company held by sister operator CAT Telecom for THB546 million (USD13.2 million). TOT will then merge the operator with its parent ACT Mobile and sell a 25% stake in the new company, to be called TOT Mobile, to a private investor, rumoured to be Japan’s NTT DoCoMo. TOT and CAT have spent months arguing over their valuation of Thai Mobile, while all along the cellco struggles to make an impact on the burgeoning wireless sector.

Thailand, CAT Telecom, Thai Mobile, TOT