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True postpones search for strategic partner
2013-07-29 03:55:00| Telecompaper Headlines
(Telecompaper) Thai communications group True plans to resume its search for a strategic partner once it has completed the establishment of its infrastructure fund and sold non-core businesses. Chief financial officer Noppadol Dejudom said that the company has halted talks with a number of companies on a possible partnership to focus on the infrastructure fund first. Once the fund is completely set-up - which is expected in October - True will resume the talks on a strategic partnership, The Nation writes. Noppadol said that the stake that would be offered to potential partners would be in line with what is allowed under the law, which caps foreign shareholding in telecommunications companies at 49 percent. In addition to the infrastructure fund, True is also working on selling non-core subsidiaries. Earlier, the board approved the sale of shares in eight non-core business subsidiaries for THB 5.4 billion to Thana Telecom, a subsidiary of True's major shareholder Charoen Pokphand Group.
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Category:Telecommunications