Thai Mobile impasse addressed
The ministries of information and communications technology and finance are collaborating to find a way around the impasse between TOT Plc and CAT Telecom Plc over the takeover cost of cellular operator Thai Mobile.
The permanent secretary of the Information and Communications Technology (ICT) Ministry, Kraisorn Pornsutee, said yesterday that a recent meeting between the two ministries concluded that the ICT Ministry would choose and hire an adviser to appraise the share price of Thai Mobile from a list provided by the Finance Ministry.TOT has offered CAT Bt1.31 billion for its 42-per-cent share in Thai Mobile, a deal that will also see it take on Thai Mobile's debts of Bt2.1 billion. CAT, however, wants Bt4 billion. Thai Mobile is a joint venture between the two state-run entities. TOT and CAT asked the ministries to step in and evaluate the share price after the two failed to reach an agreement on the latter's share value in Thai Mobile. Kraisorn expects the share evaluation to be finished within a month. Telecom Reporters, The Nation
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