Thai Mobile price still in dispute

31 Aug 2006

Negotiations between TOT Corp and CAT Telecom over the purchase of their joint mobile venture Thai Mobile stalled again yesterday when CAT Telecom insisted on an asking price of THB3.5 billion (USD93 million) for its 42% stake, exclusive of THB3 billion in accumulated debt, reports the Bangkok Post. TOT, which holds 58% of the cellco, had offered THB1.3 billion for CAT’s stake, and said it would absorb all of the debt. According to the Ministry of Information & Communication Technology, TOT executives plan to raise the matter again at the company’s next board meeting on 14 September, with a view to reaching a compromise on the deal.

Thailand, CAT Telecom, Thai Mobile, TOT