Sunday, October 11, 2015   

China Mobile buys $6.82b stake in Thai telecom firm
(06-10 15:06)

Thai telecommunications firm True Corp has agreed to sell an 18 percent stake in its business to China Mobile for about 28.6 billion baht (HK$6.82 billion) under a strategic partnership.
True said it would use the money to reduce its debts and pursue its goal of becoming ''an all-powerful leading convergence telecommunications player,'' bringing together broadband internet, pay TV and mobile telephone services.
The deal ''will transform us into a profitable company and subsequently into a formidable telecommunication player in the region,'' True Corp CEO Supachai Chearavanont said.
China Mobile, the world's biggest mobile operator by subscribers, said the purchase reflected its international expansion and search for strategic investment opportunities overseas.--AFP

Other Business breaking news:
Malaysia central bank wants state fund prosecuted (10-09 20:36)
Oil prices touch new high at US$53.61 (10-09 20:33)
HK, China stocks close higher (10-09 17:09)
Sri Lanka national carrier rewarded for hospitality (10-09 15:56)
Positive start for Europe equities (10-09 15:49)
Nikkei closes higher (10-09 14:22)
Volkswagen trust takes a beating on cheating in US hearings (10-09 13:48)
Ex-banker pleads guilty in US$1.2b Rothstein Ponzi scam in US (10-09 13:41)
Global worries kept Fed from raising rates, minutes show (10-09 13:33)
Asia computer shipments stable, survey finds (10-09 12:43)

More breaking news >>

© 2015 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2015, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.