Thai Telecom Firm: Clarity in Foreign Shareholding

True Corporation has asked the parliament of Thailand to clarify the ratio of foreign shareholdings in telecommunications companies – after receiving queries from investors and fund managers expressing interest in the company.

True vice-chairman Athueck Asvanund said the company wanted a standard ruling because all major telecom firms in Thailand in effect have foreign investors holding more than 49% both directly and indirectly, even though the law specifies a 49% maximum. For example holds Telenor of Norway effectively more than 50 percent of the second-ranked mobile operator DTAC.

According to Athueck Asvanund foreign investors, institutions, and sovereign wealth funds have shown interest in investing in Thai telecom firms and they wanted to know if they could invest to the same levels as foreign companies in mobile phone businesses in Thailand.

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