State enterprises agree on joint holding company

17 Nov 2006

Thailand’s three largest state-owned communications operators have agreed to form a holding company to improve competitiveness and cut overlapping investments. The agreement followed a joint meeting yesterday of the boards of TOT Corp, CAT Telecom and Thailand Post. Montri Supaporn, TOT’s chairman, said that the holding company would be established under the name of ICT Thailand and would supervise the operations of the three enterprises. A clearing house will also be jointly established to manage network connections, while the ICT Ministry would act as a supervisor. ICT Minister Sitthichai Pokai-udom suggested recently that TOT and CAT merge their boards to reduce investment redundancies. Mr Sitthichai said it would take two weeks to conclude the establishment of the new holding company. He added that it needed only minimal registered capital and the executive board might be recruited from either inside or outside the public sector firms.

Thailand, CAT Telecom, TOT