Thai telco True Corp is looking to bring in a foreign partner from July onwards to expand in Southeast Asia, according to its CEO.
Suphachai Chearavanont told reporters that his company plans to offer new shares equivalent to 25% of its existing equity…
Thai telco True Corp is looking to bring in a foreign partner from July onwards to expand in Southeast Asia, according to its CEO.
Suphachai Chearavanont told reporters that his company plans to offer new shares equivalent to 25% of its existing equity to a new investor.
True is the only major Thai operator without at least one foreign partner. Its largest shareholder is local conglomerate Charoen Pokphand.
Chearavanont said the telco is looking to gain an extra 100 million subscribers in the region by 2019.
Its first deal could be in Myanmar. A few days ago, it was reported that True was in talks with Myanmar-based ISP Yatanarpon Teleport (YTP) to start offering joint mobile services in the country.
The Thai operator – which provides mobile, fixed-line and broadband services – has a US$1.8bn war chest since listing its infrastructure assets late last year, although most of the proceeds are expected to be used to repay debt.
