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Gulf Energy offers $5.4 bln for telco in second-largest Thai deal


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. ....

Smith Banomyong , Thaicom Pcl , Sarath Ratanavadi , Pisut Ngamvijitvong , Ekkarin Wongsiri , Thomson Reuters Trust Principles , Singapore Telecommunications , Gulf Energy Development , Intouch Holdings , Info Service , Advanced Info Service , Trinity Securities , Kasikorn Securities , Thomson Reuters Trust , தாம்சன் ராய்ட்டர்ஸ் நம்பிக்கை ப்ரிந்ஸிபல்ஸ் , சிங்கப்பூர் தொலைத்தொடர்பு , வளைகுடா ஆற்றல் வளர்ச்சி , தொடர்பில் ஹோல்டிங்ஸ் , தகவல் சேவை , திரித்துவம் பத்திரங்கள் , காசிகார்ன் பத்திரங்கள் , தாம்சன் ராய்ட்டர்ஸ் நம்பிக்கை ,

Gulf Energy offers US$5.4 billion for top telco in second-largest Thai deal


20 Apr 2021 / 00:47 H.
Customers waiting for service at an AIS shop in Bangkok. – REUTERSPIX
BANGKOK: Gulf Energy Development, Thailand s biggest power producer run by billionaire Sarath Ratanavadi, offered a US$5.4 billion (RM22.27 billion) bid on Monday for Intouch Holdings, which controls the country s top mobile phone operator, Advanced Info Service (AIS).
The 65 baht (RM8.58) 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 US$10.6 billion sale of its local operations last year, Dealogic data showed. ....

Krung Thep Mahanakhon , Smith Banomyong , Thaicom Pcl , Sarath Ratanavadi , Pisut Ngamvijitvong , Ekkarin Wongsiri , Singapore Telecommunications , Gulf Energy Development , Info Service , Intouch Holdings , Advanced Info Service , Trinity Securities , Kasikorn Securities , சிங்கப்பூர் தொலைத்தொடர்பு , வளைகுடா ஆற்றல் வளர்ச்சி , தகவல் சேவை , தொடர்பில் ஹோல்டிங்ஸ் , திரித்துவம் பத்திரங்கள் , காசிகார்ன் பத்திரங்கள் ,