Media & TelecomGulf Energy offers $5.4 bln for telco in second-largest Thai deal ReutersPatpicha Tanakasempipat 4 minutes read Gulf Energy Development (GULF.BK), Thailand's biggest power producer run by billionaire Sarath Ratanavadi, offered a $5.4 billion bid on Monday for Intouch Holdings (INTUCH.BK), which controls the country's top mobile phone operator AIS. The 65 baht ($2.08) per share offer for the 81.1% shares of Intouch that Gulf doesn't already own, represents an 11% premium to Intouch's close on Friday. Intouch stock rose as much as 9% on Monday to 63.75 baht and closed at 63 baht. The acquisition, if successful, will be Thailand's second-biggest ever intra-country deal after Tesco's $10.6 billion sale of its local operations last year, Dealogic data showed.