TOT plans to divest stakes in eleven ventures to raise cash for investment

21 Nov 2014

State-owned Thai telco TOT has hatched a plan to streamline itself and raise cash for investment in its core telecoms infrastructure by divesting all of its shares in eleven out of its 14 joint venture interests, which it expects to earn it around THB15.254 billion (USD464 million). According to Thai newspaper The Nation, the eleven stakes include TOT’s 98.6% in 3G mobile holding company ACT Mobile, whilst all other ten stakes are minority holdings, including TOT’s 5.6% share in Thailand’s second largest cellco DTAC.

Thailand, Digital Total Access Communication (DTAC), TOT