CAT rejects TOT’s terms for Thai Mobile takeover

5 Nov 2007

CAT Telecom has rejected an offer by its state-run sister telco TOT to take over its 42% stake in debt-ridden joint venture cellco Thai Mobile for THB2.4 billion (USD76 million). The Bangkok Post quotes TOT board spokesman Colonel Natee Sukalrat as saying that CAT had told the board that it still wants to participate in the running of Thai Mobile, which only has around 60,000 users but possesses the only UMTS frequencies in the country.

Thailand, CAT Telecom, Thai Mobile, TOT