Telekom Malaysia seeks Thai partner, talks to True

20 Feb 2006

Telekom Malaysia™ is looking for a local partner to help it enter the Thai mobile market, but is not aiming to gain a controlling stake in the venture, according to a company official last Friday. ‘If an opportunity arises and the valuation is fair, we are very keen to invest in Thailand’s mobile phone business,’ Yusof Annuar Yaacob, chief executive of TM International, told Dow Jones Newswires. In Thailand foreign operators must team up with local partners to participate in the country’s telecom industry due to a foreign ownership limit of 49%. Yaacob said that TM has held talks with the country’s third largest cellco True Move (formerly TA Orange)’s parent True Corp, but declined to comment on whether a deal might materialise any time soon.

Thailand, Telekom Malaysia, True Move