TOT resurrects Thai-Finn Technology Fund

Thai state-owned incumbent TOT Corp and a number of Finnish telecom vendors have invested a total USD20 million in a joint fund to utilise Finnish technology to develop the Thai telecoms market. Creation of the Finn-Thai Technology Fund has been on hold for two years whilst TOT and its sister operator CAT Telecom extricated themselves from their joint mobile venture which was to have originally invested in the project. TOT is now the sole Thai company investing in the fund, which will be managed by a Finnish former bank governor.