True seeks 3G partner

The potential investor will likely be a foreign telecom that could provide both cash and expertise and could come in at either the True level or that of its cellular operator True Move, the source said.

But management sees no need to cut a deal anytime soon as the National Telecommunications Commission (NTC) is not expected to kick start the auction of the 2.1GHz spectrum licences this year, the source said.

The NTC's recent announcement that four 2.1GHz licences will be made available has prompted foreign telecoms to study the feasibility of investing in the 3G business in Thailand through a partnership with local telecom operators.

True Move is the most obvious target, since it has not yet paired up with a foreign player.

Last week NTC chairman Choochart Phromprasid said he still believes the licensing body could meet its goal of opening bidding for four 2.1GHz licences this year.

But some commissioners remain cautious, since many key licensing details have yet to be finished.

The regulator is also expected to take one month to select a consultant to design the auction process.

A telecom analyst said finding a partner would be a positive for True's financial status and business prospects.