DTAC’s shares rose following reports that Telenor is looking to exit Thailand

Yesterday morning DTAC’s shares rose by 7 percent following a report published 26 July by London-based business intelligence service TMT Finance that Norway’s Telenor was considering selling its Thai mobile operating unit Total Access Communications Plc, (DTAC), Thai Enquirer reports.

Telenor owns around 65 percent of DTAC and according to the report, the telecom giant is looking to divest the market at a valuation of $ two billion for its stake. According to the article by Thai Enquirer, the report said, “Six sources told TMT Finance that Telenor is considering selling its Thai mobile operating unit Total Access Communications Plc, known as DTAC [BKK: DTAC], and is sounding out interest from potential buyers.”

Thai Enquirer writes that DTAC shares also rose in response to news that Telenor was going to ex-dividend with a payment of 1.05 baht a share for its operations in the previous quarter.

DTAC did not answer on Thaienquirer’s request for comments, the media writes.

Read the full article with more on the matter here

About Mette Larsen

ScandAsia Journalist • Scandinavian Publishing Co., Ltd. • Thailand

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