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Huge deal: An AIS shop in Bangkok. Gulf Energy will tender for 100% of AIS, Thailand’s biggest mobile phone company controlled by Intouch. Reuters
BANGKOK: Gulf Energy Development Pcl, Thailand’s biggest power producer by market value, offered to acquire Intouch Holdings Pcl that control’s the nation’s largest mobile phone operator for as much as 169 billion baht (US$5.4bil or RM22bil).
The Bangkok-based company, controlled by billionaire Sarath Ratanavadi, offered to buy 2.6 billion shares, or about 81% of Intouch, that it doesn’t currently own at 65 baht each, it said in an exchange filing. The offer price is 11% higher than Intouch’s close on Friday.
Sarath Ratanavadi, who controls the Gulf Energy Development (Gulf) - Thailand’s biggest power producer by market value, is among the richest businessman on the Thai stock market. - The Nation Thailand/ANN BANGKOK, April 19 (Bloomberg): Gulf Energy Development Pcl, Thailand’s biggest power producer by market value, offered to to acquire Intouch Holdings Pcl that control’s the nation’s largest mobile phone operator for as much as 169 billion baht (US$5.4 billion).
The Bangkok-based company, controlled by billionaire Sarath Ratanavadi, offered to buy 2.6 billion shares, or about 81% of Intouch, that it doesn’t currently own at 65 baht each, it said in an exchange filing. The offer price is 11% higher than Intouch’s close on Friday.
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BANGKOK Thailand’s Gulf Energy Development Pcl is planning a $5.4 billion buyout of Intouch Holdings which controls the country’s biggest mobile operator Advanced Info Service Pcl (AIS) .
Bangkok-based Gulf Energy, which owns 18.9% of Intouch, said in a filing it had offered to buy the rest of the shares for 65 baht per share, 11% higher than its previous close.
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If Gulf is able to secure at least 50% of Intouch, it will also offer to buy out AIS, it said in a statement. Intouch owns 40.45% of AIS.
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