Thai operator AIS targeted by power company - Mobile World Live

Thai operator AIS targeted by power company

01 JUN 2021

Gulf Energy Development’s board voted to consider making a tender offer to acquire AIS alongside progressing a move to purchase Intouch Holdings, which holds a 40.45 per cent stake in the operator.

The power company’s board recently lowered a $5.4 billion bid for the holding company, in which it owns a near 19 per cent stake, and stated both tender proposals were dependent on the Stock Exchange of Thailand (SET) approving a request to waive an obligation to make a tender offer for satellite service provider Thaicom.

Intouch Holdings has a 41.1 per cent stake in Thaicom, which Gulf Energy Development does not plan to acquire.

There is speculation the AIS move is a connected to a recent combination of state-owned CAT Telecom and TOT into National Telecom: Bangkok Post reported the power company has close ties with government officials including Digital Economy and Society Minister Chaiwut Thanakamanusorn, who was previously a Gulf Energy Development executive.



Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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