Japanese telco Softbank and conglomerate Sumitomo Group have reportedly agreed to provide financing to Thai state-owned operator TOT in exchange for a stake in the company.
The Bangkok Post wrote that the two Japanese companies have committed to…
Japanese telco Softbank and conglomerate Sumitomo Group have reportedly agreed to provide financing to Thai state-owned operator TOT in exchange for a stake in the company.
The Bangkok Post wrote that the two Japanese companies have committed to providing soft loans to help fund TOT’s second phase of its 3G network expansion. In return, they would take a joint venture stake in the Thai operator.
Yongyuth Wattanasin, TOT’s CEO, was quoted saying that he will decide on Softbank’s and Sumitomo’s proposals by October. He also said he might consider other financing options, including bank loans or the creation of a JV with a private mobile operator.
Rumours of a partnership between Softbank and TOT first emerged in October last year, when it was reported that the two companies might team up to rollout 4G services in Thailand.
Softbank and TOT could not be reached for comment before the press deadline.
