Monday, March 30, 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:
US growth at unrevised 2.2pc in last quarter (03-27 20:42)
Nikkei gains erased at close (03-27 14:23)
Oil prices fall in Asia trade (03-27 13:23)
Yen weakens (03-27 12:34)
Hang Seng flat at mid-day (03-27 12:29)
China industries still in the red (03-27 12:07)
Yahoo okays additional US$2 billion share buybacks (03-27 11:17)
Nikkei gains by break (03-27 10:51)
Japan inflation stalls, household spending tumbles (03-27 10:25)
Hang Seng, Shanghai positive (03-27 10:19)

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.