BANGKOK (Dow Jones)--Singapore Telecommunications Ltd. (T48.SG) is eyeing a stake in TOT Corp. (TOT.YY) to become a strategic partner, Bangkok Post reports.
SingTel will likely buy the shares in the Thai state-run telecommunication company's initial public offering, but will first have to consult Thailand's Finance Ministry, the major shareholder of TOT, the paper says citing a TOT source.
Finance Minister Somkid Jatusripitak has outlined a plan to sell a 30% stake, or 180 million shares, in TOT through an IPO around November, the paper says. The source told the paper that the partnership will help TOT cope with increased competition after the market is liberalized next year.
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1 comment:
This purchase has lesser risk than the Pakistan bid. Of course there is increase competition, but Singtel can offer TOT Corp the experience in dealing with liberalized market and increased competition.
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