TOT to complete purchase of CAT’s stakes in Thai Mobile and ACT Mobile

6 Mar 2006

Thai state-owned telco TOT Corp confirmed on Friday that it will complete the deal to buy shares in two mobile joint ventures from fellow government-run operator CAT Telecom, in a move to gain full control over the country’s 1.9GHz and 2GHz wireless frequencies for the provision of 3G services. TOT first agreed to purchase CAT’s stakes in Thailand’s smallest cellco Thai Mobile and its parent company, cellular network builder ACT Mobile, in mid-2005. TOT’s president Teeravit Charuwat told a news conference: ‘CAT Telecom has finally agreed to give TOT the full authority to manage the 1,900MHz and 2,000MHz frequencies. Regarding the pricing, it will be determined by the Ministry of Finance and the Ministry of Information and Communication Technology, shareholders of both TOT and CAT.’ Following the transactions, Thai Mobile will be renamed TOT Mobile and will seek a strong foreign partner to help it develop 3G services. Teeravit said TOT had been in talks with several potential partners and it will discuss the issue with Vodafone Group next week. Local press have reported that TOT has held talks with Japan’s NTT DoCoMo to sell a stake in Thai Mobile, which currently serves around 150,000 subscribers.

Thailand, CAT Telecom, TOT