george Posted January 13, 2006 Share Posted January 13, 2006 $2-BN TAKEOVER: PM’s clan agrees to sell Shin to S’pore BANGKOK: -- Thaksin sealed deal with Temasek on New Year trip to city-state: source. Singapore’s state-run investment agency Temasek is set to take over Shin Corp by buying out the Shinawatra family’s 40-per-cent stake worth Bt80 billion, a Shin source said yesterday. The deal was cemented on the holiday visit made by Prime Minister Thaksin Shinawatra and his family to the city-state from New Year’s Day to January 4. Two days later, on January 6, the two sides signed a letter of intent which would see the Shinawatra and Damaphong families give up their combined 40-per-cent holding. Payment for the shares would be made in two transactions next week, the source said. There has been intense speculation over the past two weeks about the Shinawatra family’s alleged plan to get out of Shin in order to reduce political pressure from charges of conflict of interest. The PM’s family stands to pocket a handsome premium from selling Shin, which controls Advanced Info Service (AIS), the country’s leading mobile-phone operator, as well as Thai AirAsia, Capital OK and iTV. The takeover price of US$2 billion means that Temasek will be paying Bt69 for Shin shares, which closed at Bt44.50, down Bt0.25 yesterday. AIS lost Bt3 to Bt109. The local market underwent a technical correction after rallying strongly since the beginning of the year, buoyed by foreign buying. Temasek is likely to allow the current management at Shin to remain in control. “Khun Thaksin has been negotiating with the investors from Singapore since the beginning of last year. The sell-off of Shin will help ease political pressure. Besides, the telecom market has reached saturation level. It is better to bail out of the business at its peak rather than wait for the price to fall further,” the source said. “The 3G [third-generation cellular service] is only a new technology. Investing in 3G would not help improve the margins of the company in any significant way, but it would further complicate the political problems.” Temasek controls Singapore Telecom, a 21.4-per-cent strategic partner of AIS, the flagship of the Shin conglomerate. Earlier, reports suggested that SingTel would be the buyer. The acquisition would boost Temasek and SingTel’s control of Shin to more than 60 per cent, but they are only interested in AIS’ mobile phone business, the source said. So the Shinawatra family would be given a buyback option for the TV station, consumer-finance company and budget airline. An investment banker in Singapore said SingTel was definitely interested in Shin but would have to weigh political fall-out from the takeover. He said it was unlikely the Shinawatra family would completely let go of AIS, which has been a big money-spinner. “If they’re still in politics, they should have a cash-cow company to help raise funds for politics,” he added. --The Nation 2006-01-13 Link to comment Share on other sites More sharing options...
cdnvic Posted January 13, 2006 Share Posted January 13, 2006 I thoughts the kids, the maid, the driver, and the gardener owned all this. Were they consulted? cv Link to comment Share on other sites More sharing options...
ovenman Posted January 13, 2006 Share Posted January 13, 2006 Two days later, on January 6, the two sides signed a letter of intent which would see the Shinawatra and Damaphong families give up their combined 40-per-cent holding. Payment for the shares would be made in two transactions next week, the source said. Some reports I have read attribute the recent gain in value of the baht to the rampant buying of said currency in Singapore ahead of this sale. There has been intense speculation over the past two weeks about the Shinawatra family’s alleged plan to get out of Shin in order to reduce political pressure from charges of conflict of interest. I don't buy this for a minute. They're selling out now because the time is right, period. This move has been in the making for years, timed to occur ahead of the impending opening up/liberalization of the Thai telecommunications market. Link to comment Share on other sites More sharing options...
kurgen Posted January 13, 2006 Share Posted January 13, 2006 I wonder if he will pay any tax on this ???? Link to comment Share on other sites More sharing options...
JXXXL Posted January 13, 2006 Share Posted January 13, 2006 I wonder if he will pay any tax on this ???? Excellent point. In many countries, there would be a hefty tax implication on a cash deal like this. I think it would be abhorrent if it turns out he doesn't pay any tax on this deal. Link to comment Share on other sites More sharing options...
sriracha john Posted January 13, 2006 Share Posted January 13, 2006 (edited) $2-BN TAKEOVER: PM’s clan agrees to sell Shin to S’poreThe deal was cemented on the holiday visit made by Prime Minister Thaksin Shinawatra and his family to the city-state from New Year’s Day to January 4. Two days later, on January 6, the two sides signed a letter of intent which would see the Shinawatra and Damaphong families give up their combined 40-per-cent holding. Payment for the shares would be made in two transactions next week, the source said. HOLD ON A SECOND..... ACCORDING TO REUTERS.... IT'S NOT TRUE... Thaksin denies pact on Shin stake sale to Temasek BANGKOK, Jan 13 (Reuters) - Thai Prime Minister Thaksin Shinawatra denied on Friday he has done a deal with Singapore's Temasek Holdings to sell his family's stake in Shin Corp , the telecoms firm he founded. "There was no talk. I went there for shopping only," Thaksin told reporters after The Nation newspaper said a letter of intent was signed in Singapore while he was there to sell the Shinawatra and related Damapong family stakes for $2 billion. "I was there to shop and dine with my family. I only met supermarkets, shopping malls, Mcdonald's and hotels," he said. "They can write whatever they want. They can make up the story as they wish. I didn't meet them". The Nation said Temasek, Singapore's state-run investment arm, would buy the 40 percent of Shin owned by the Shinawatra and Damapong families for 80 billion baht ($2 billion). It quoted an unidentified Shin source as saying Temasek would pay 69 baht per share, a 55 percent premium to Thursday's closing price of 44.50 baht. The report sent Shin shares up nearly four percent to an 11-month high of 46.25 baht at 0318 GMT. Shin Corp told the Stock Exchange said the company had received no information from the two families on a potential sale, which has been rumoured since December. The firm's shares have risen more than 20 percent since the rumours started. ============================================= That's the problem with pathological liars like Thaksin..... You never know WHAT or WHO to believe when they report on him..... Edited January 13, 2006 by sriracha john Link to comment Share on other sites More sharing options...
mickmac Posted January 13, 2006 Share Posted January 13, 2006 Doesn't "Ol'moon face" have to pay 5 billion Ba Link to comment Share on other sites More sharing options...
sierra01 Posted January 13, 2006 Share Posted January 13, 2006 Maybe I've got the wrong end of the stick with this, but how can the shinawatra family 'sell' the Shin corp? They're selling (maybe, maybe not) their 40% stake. Does a 40% stake mean they own the company? I agree with ovenman, once the opening up/liberalization of the industry gets fully in it's stride, and serious competition comes along, Shin, Dtac, TOT, CAT etc are going to have real problems. At the moment it's a nice, cozy cartel, everyone is making money despite being barely able to tie their shoelaces themselves. We're beginning to see it now, CAT is starting to scream blue murder because they can see the end of their monopoly on control of the internet here, and the silly money the ISP's have to pay them. It's gonna get real interesting! Link to comment Share on other sites More sharing options...
sriracha john Posted January 13, 2006 Share Posted January 13, 2006 $2-BN TAKEOVER: PM’s clan agrees to sell Shin to S’pore The deal was cemented on the holiday visit made by Prime Minister Thaksin Shinawatra and his family to the city-state from New Year’s Day to January 4. Two days later, on January 6, the two sides signed a letter of intent which would see the Shinawatra and Damaphong families give up their combined 40-per-cent holding. Payment for the shares would be made in two transactions next week, the source said. HOLD ON A SECOND..... ACCORDING TO REUTERS.... IT'S NOT TRUE... Thaksin denies pact on Shin stake sale to Temasek BANGKOK, Jan 13 (Reuters) - Thai Prime Minister Thaksin Shinawatra denied on Friday he has done a deal with Singapore's Temasek Holdings to sell his family's stake in Shin Corp , the telecoms firm he founded. "There was no talk. I went there for shopping only," Thaksin told reporters after The Nation newspaper said a letter of intent was signed in Singapore while he was there to sell the Shinawatra and related Damapong family stakes for $2 billion. "I was there to shop and dine with my family. I only met supermarkets, shopping malls, Mcdonald's and hotels," he said. "They can write whatever they want. They can make up the story as they wish. I didn't meet them". The Nation said Temasek, Singapore's state-run investment arm, would buy the 40 percent of Shin owned by the Shinawatra and Damapong families for 80 billion baht ($2 billion). It quoted an unidentified Shin source as saying Temasek would pay 69 baht per share, a 55 percent premium to Thursday's closing price of 44.50 baht. The report sent Shin shares up nearly four percent to an 11-month high of 46.25 baht at 0318 GMT. Shin Corp told the Stock Exchange said the company had received no information from the two families on a potential sale, which has been rumoured since December. The firm's shares have risen more than 20 percent since the rumours started. ============================================= That's the problem with pathological liars like Thaksin..... You never know WHAT or WHO to believe when they report on him..... No... It IS true according to Asia News Network: Shin Corp in US$2bil deal with Temasek Singapore’s state-run investment agency Temasek is buying out the Shinawatra family’s 40-per-cent stake, worth Bt80 billion, of Shin Corp.... ====================================== No... That's wrong.... and THIS is right according to MCOT: PM denies news on sell-off of Shin Corp's shares on Singapore trip BANGKOK, Jan 13 (TNA) – Prime Minister Thaksin Shinawatra on Friday blamed reporters for making up news that Shin Corporation Public Company Limited, in which his family holds a major stake, disposed of shares to a giant telecom firm in Singapore.... =================================== wheeeee..... let's go round and round on the merry-go-round reminds me of that "teen girl" on Little Britain television show.... "yeah, but no.... but yeah, but no... but yeah, but no... Link to comment Share on other sites More sharing options...
steveromagnino Posted January 13, 2006 Share Posted January 13, 2006 Well both could be technically sort of right if what i hear is the case, that this will be a sale/share swap, with the Shinwatra and Damapong families swapping equity in Shin for equity in Temasek, with some element of payment. There is definite demand for Thai baht coming in from Singapore, but apparently that is how trades work for the Thai currency anyway according to my source; whether he is right or not I'd appreciate someone clarifying. If it could be shown that they were investing in the shares not as traders, many countries would not require any capital gains tax; in a market without capital gains tax (e.g. NZ) share market gains would be taxed if they were in the business of trading shares. Which they are going to claim they are not. But then again, I am not clear on capital gains tax in Thailand. No doubt deregulation of the industry will remove the need for CAT and TOT for the most part. However, I do not see that mobile telephony is that uncompetitive now; who is likely to come into the market now, with high penetration rates, infrastructure already built and companies willing to go head to head on price? Link to comment Share on other sites More sharing options...
Jai Dee Posted January 13, 2006 Share Posted January 13, 2006 PM DENIES NEWS ON THE SELL OF SHIN CORP’S SHARES TO SINGAPORE Prime Minister Thaksin Shinawatra has still refused to give an interview on the alleged sales of Shin Corporation's shares to a firm in Singapore. The premier said he and his family visited the island during the New Year’s holidays for shopping and relaxing purposes only. He insisted there was no meeting with any important people on the island as the news previously reported. Source: Thai National News Bureau Public Relations Department - 13 January 2006 Link to comment Share on other sites More sharing options...
The Skipper Posted January 13, 2006 Share Posted January 13, 2006 PM DENIES NEWS ON THE SELL OF SHIN CORP’S SHARES TO SINGAPORE Prime Minister Thaksin Shinawatra has still refused to give an interview on the alleged sales of Shin Corporation's shares to a firm in Singapore. The premier said he and his family visited the island during the New Year’s holidays for shopping and relaxing purposes only. He insisted there was no meeting with any important people on the island as the news previously reported. Source: Thai National News Bureau Public Relations Department - 13 January 2006 Standard operating procedure is to not discuss a potential sale of any business. A smart move. Did you really expect him to talk about a 2 billion dollar transaction? Thaksins a winner, a success, brilliant in business and the Country has been doing much better since he's been around. Sure, he has mishandled a few issues and he might be an egomaniac, but he won the vote. Twice. Link to comment Share on other sites More sharing options...
sriracha john Posted January 13, 2006 Share Posted January 13, 2006 Brilliant self-promoter as well... Piggy banks bear Prime Minister Thaksin Shinawatra’s picture and the motto ‘To be smart, you must be diligent in reading and thinking’. They will be given to children who visit Government House on National Children’s Day tomorrow. Link to comment Share on other sites More sharing options...
griser Posted January 13, 2006 Share Posted January 13, 2006 (edited) I've always said that we should keep an eye on Taksin divesting himself of his holdings. It's a sure sign the Thai economy is going to go south! Get ready for it folks.... Greg Edited January 13, 2006 by griser Link to comment Share on other sites More sharing options...
george Posted January 13, 2006 Author Share Posted January 13, 2006 Brilliant self-promoter as well... Piggy banks bear Prime Minister Thaksin Shinawatra’s picture and the motto ‘To be smart, you must be diligent in reading and thinking’. They will be given to children who visit Government House on National Children’s Day tomorrow. Pla krapong?! Link to comment Share on other sites More sharing options...
phuketsiam Posted January 13, 2006 Share Posted January 13, 2006 At the moment it's a nice, cozy cartel, everyone is making money despite being barely able to tie their shoelaces themselves. excellent Link to comment Share on other sites More sharing options...
Jai Dee Posted January 14, 2006 Share Posted January 14, 2006 SHIN TAKEOVER: Thaksin: I went there to shop Premier remains mum but impish as rumours fly about a done deal in Singapore. Prime Minister Thak-sin Shinawatra claimed yesterday he took his family to Singapore during the New Year only to shop, amid intensifying speculation that his family and allies were selling their stakes in Shin Corp Plc to Singapore's Temasak Holdings. Latest reports on such a deal have sent the company's shares rising. Thaksin said he had not held talks with Temasek while in Singapore early this month, as reported. "People can write what they want, but I did not meet or talk business with anyone. I spent my time shopping, at McDonald's restaurants and at hotels," he told reporters. The premier and his family spent the New Year holiday in Singapore until January 4. However, Thaksin did not deny outright that his family would sell its stake. When asked about this, he gave reporters a mischievous smile. Rumours about the biggest take-over in Thai history have affected Shin Corp share prices, and critics have frowned upon the stock market authorities for their conspicuous silence. Thaksin's sister Yingluck, president of Shin's flagship business Advanced Info Service Plc, yesterday also declined to comment. "I don't know any details of that," she said, without flatly denying the news. Meanwhile, after flatly denying the takeover rumours in two filings to the Stock Exchange of Thailand last month, Shin said in filing yesterday simply that it had not received any information from the major shareholder concerning the report that its major shareholder would dispose of its shares to Singapore's Temasek. "The company would like to state that it has not received any information concerning this matter from the major shareholder," Shin said. A source in the Shin Group told The Nation that a high-ranking executive at Shin was inspecting the contract. The Shinawatra and Damapong families own a combined 49.6-per-cent share in Shin. Bhanpot Dama-pong is the elder brother of Thaksin's wife, Khunying Pojaman. The Krungthep Turakij Thai-language daily reported that the families would sell a 40-per-cent stake in Shin to Singapore's state investment arm in a deal worth Bt80 billion. When asked about the deal by The Nation on Thursday, Eva Ho, Temasek's director for corporate communications, said that the company had a policy of not com?menting on media reports or mar?ket speculation. A source close to Shin said that high-ranking executives of the company were expected to learn some details of the deal on Thursday. Temasek's existing investments cover a wide range of businesses, from telecoms to financial services, property, pharmaceuticals and bioscience. Shin holds a 42.86-per-cent stake in its flagship company, mobile-phone operator Advanced Info Service Plc (AIS). Temasek controls Singapore Telecom, which holds a 19.26-per-cent stake in AIS and 1.08 per cent of Shin. With Temasek's financial backing, AIS's leading position in the Thai market could be strengthened. Thana Tienachariya, chief commercial officer of the country's second largest mobile-phone operator Total Access Communication (DTAC), said that whatever the change in Shin's shareholding structure, DTAC would keep its guard up against AIS. Share prices of Shin, AIS, Shin Satellite Plc (Sattel) and iTV Plc rallied during trading yesterday on news of the sell-off deal. Shin peaked at Bt46.25 before profit-taking weakened the stock to Bt45.25 at close, a 1.69-per-cent rise, and was the second most active stock on the day after Thai Petrochemical Industry Plc. AIS jumped to Bt112 before ending the day at Bt108, Bt1 lower than its previous closing. Sattel rose by Bt0.10 to Bt15.10 while iTV shares ended the day unchanged from the previous close of Bt10.80. Bualuang Securities Plc vice president Pongrat Ratanatavanananda said that the shares had been boosted by reports that the Temasak takeover would be conducted at a price of Bt69 per share. "But if any investor is deciding whether to invest in Shin or AIS, I would prefer the latter due to the greater upside gain," she said. The brokerage house targeted Shin and AIS share prices at Bt50 and Bt125 respectively. Source: The Nation - Jan 14 , 2006 Link to comment Share on other sites More sharing options...
grahamb Posted January 14, 2006 Share Posted January 14, 2006 Thaksin said he had not held talks with Temasek while in Singapore early this month, as reported. "People can write what they want, but I did not meet or talk business with anyone. I spent my time shopping, at McDonald's restaurants and at hotels," he told reporters. Was it McDonald's that his daughter worked at a few years ago? Is he sponsored by them?! Link to comment Share on other sites More sharing options...
Nam Kao Posted January 14, 2006 Share Posted January 14, 2006 good observation Grizer ur a smart man i just hope the internet gets faster Link to comment Share on other sites More sharing options...
roiet Posted January 14, 2006 Share Posted January 14, 2006 Mobile telephony is very profitable now. AIS self costs for 1 min is 20 Satang, infrastructure in place. After deregulation all the networks will be open for all suppliers and everyone has to accept interconection fees set by the regulator which will eat the profit.eg: AIS has to accept all the calls from Orange etc at a given price. Giants like Orange can dump the prices endlessly because they will be able to use AIS networks and infrastructure for a minimal price. Orange applies real strategies. They do not have to build up all the infrastructure. AIS will also be forced by regulators to provide more capacity which will eat the profit. At the end the newcomers will win. Strange isnt it, this is the game of deregulation. Talking from real experience. Dont do the same mistakes as stupid Worldcom and many other Telecoms. Sell now at peak business, be smart Shin peaked at Bt46.25. Rumors will drive the price up.Bualuang Securities Plc vice president Pongrat Ratanatavanananda said that the shares had been boosted by reports that the Temasak takeover would be conducted at a price of Bt69 per share. Very good timing indeed However, Thaksin did not deny outright that his family would sell its stake. When asked about this, he gave reporters a mischievous smile Link to comment Share on other sites More sharing options...
Nam Kao Posted January 14, 2006 Share Posted January 14, 2006 Short it Roiet! Link to comment Share on other sites More sharing options...
penzman Posted January 14, 2006 Share Posted January 14, 2006 Brilliant self-promoter as well... Piggy banks bear Prime Minister Thaksin Shinawatra’s picture and the motto ‘To be smart, you must be diligent in reading and thinking’. They will be given to children who visit Government House on National Children’s Day tomorrow. How nice... His face bigger than others on the can. Narcicism at it's best. Link to comment Share on other sites More sharing options...
Maestro Posted January 14, 2006 Share Posted January 14, 2006 I've always said that we should keep an eye on Taksin divesting himself of his holdings. It's a sure sign the Thai economy is going to go south! I believe you are drawing the right conclusion. When in Bangkok last week I heard from knowledgeable people that an economic downturn, if not an outright crash, is expected for 2007. Personally, I thought it would take a year or two longer to happen, but now I wonder. ----------- Maestro Link to comment Share on other sites More sharing options...
Plus Posted January 14, 2006 Share Posted January 14, 2006 Roiet, I don't think you really know what you are talking about - Orange pulled out of Thai market a year or so ago, even if True Corp, part of CP Group, still uses the name. It probably won't survive if not for Mobile-fixed lines-ADSL tie up. The most interesting poing in the whole story is what Shinawatras are going to do with their money next. Imagine the PM investing a hundred billion baht in an industry of his choice - that's the conflict of interests that even usually docile Thais will find very hard to accept. Energy sector has been metnioned as one possible option - think PTT. Link to comment Share on other sites More sharing options...
Maestro Posted January 14, 2006 Share Posted January 14, 2006 The most interesting poing in the whole story is what Shinawatras are going to do with their money next. Skytrain, a.k.a. BTS? The thought occurred to me when I read this article, i.e. that the buyers mentioned might be intermediaries for You Know Who. ------------- Maestro Link to comment Share on other sites More sharing options...
roiet Posted January 15, 2006 Share Posted January 15, 2006 Plus I said giants like orange can do. Did you really follow the liberalization in other countries, Europe etc. The same pattern as I explained. Did you see the results, really. Are you updated about Telecoms ? Link to comment Share on other sites More sharing options...
britainmal Posted January 15, 2006 Share Posted January 15, 2006 Maybe I've got the wrong end of the stick with this, but how can the shinawatra family 'sell' the Shin corp? They're selling (maybe, maybe not) their 40% stake. Does a 40% stake mean they own the company?I agree with ovenman, once the opening up/liberalization of the industry gets fully in it's stride, and serious competition comes along, Shin, Dtac, TOT, CAT etc are going to have real problems. At the moment it's a nice, cozy cartel, everyone is making money despite being barely able to tie their shoelaces themselves. We're beginning to see it now, CAT is starting to scream blue murder because they can see the end of their monopoly on control of the internet here, and the silly money the ISP's have to pay them. It's gonna get real interesting! Mr Sierra01 I agree with you 100 percent. Link to comment Share on other sites More sharing options...
Jai Dee Posted January 16, 2006 Share Posted January 16, 2006 Shin sell-off ‘in next two weeks’ The Shinawatra clan will in the next two weeks sell off its entire stake in Shin Corp Plc to Singapore’s Temasek Holdings without any buy-back option, sources familiar with the deal said yesterday. “It’s a pure cash deal, not involving a share swap [for Temasek’s shares in Singapore Telecommunications] as earlier reported,” said a source who asked not to be named. Sources said that the deal should be wrapped up by the end of this month at the latest. Based on Shin stocks latest closing price of Bt45.25, the deal could be worth more than Bt65 billion, inclusive of premiums, making it the biggest takeover deal in Thai history. A source close to the deal earlier estimated the transaction value at Bt80 billion. The sources said Prime Minister’s Thaksin Shinawatra’s family and his in-laws, the Damapong family, who together hold a 49.61 per cent stake in Shin, wanted to end all connections with the company. They quoted Thaksin as saying that the deal would eliminate entirely criticisms about conflicts of interest. “He does not want the money as much as the desire to alienate his family from Shin,” one source added. Shin’s interests cover a wide range of companies. Besides mobile-phone giant Advanced Info Service (AIS), there is Shin Satellite Plc, iTV Plc, Thai AirAsia Co Ltd and Capital OK Co Ltd. Another source said there was no option to buy back any businesses held by Shin such as Thai AirAsia or credit company Capital OK. All executives of Shin and related companies will maintain their positions after the sale and only Thaksin’s youngest sister Yingluck, currently AIS president, will have to move out, the sources said. “She carries the family name. So to entirely eliminate the political linkage, she is to move to other companies not under Shin’s umbrella,” the source said. Rumour had it earlier that she would be made president of SC Asset Plc, a listed property company 60.82-per-cent owned by the Shinawatra family. The company got a new president on October 1 last year when Sahat Kittikun replaced Surathien Chakthranont. As with Shin, the Damapongs are major shareholders of SC Asset along with the Shinawatras. Busaba Damapong, wife of Thaksin’s wife’s elder brother Bhanpot, is the company’s executive chairman. Sources said Pong Sarasin, former chairman of Thai Pure Drinks and Surathip Group as well as benig a Social Action Party MP, was approached to replace Bhanpot as Shin chairman. However, top executives at Shin and AIS are fretting about the possibility of personnel changes some time after Temasek takes full control of the group. Shin’s share price and market capitalisation have more than doubled in the past five years since Thaksin first came to power. Thaksin has constantly been accused of conflicts of interest even though he transferred all his shares in Shin and related companies to his children before taking the prime minister’s post. Conflicts of interest was one of the issues raised by Sondhi Limthongkul in his weekly public talk on Friday afternoon, which ended with some of his audience marching in protest to Government House that night. Nearly two months after rumours of the Shin sell-off emerged, Thaksin on Saturday called an urgent dinner meeting with its top executives including CEO Boonklee Plangsiri, apparently to reveal what he planned to do with the country’s largest telecom firm. Neither Yingluck nor any of the executives present at the dinner could be reached for comment yesterday. Source: The Nation - January 16, 2006 Link to comment Share on other sites More sharing options...
Plus Posted January 16, 2006 Share Posted January 16, 2006 The days of easy money in mobile networks are over - it was a growing industry ten years ago with a lot of potential but no more - the market is saturated. Giants, like Orange, burnt their hands when they tried to stick their hands in the cookie jar. Dtac's owners sold their stake a few months ago, now it's Ais' turn. Interesting, isn't it? What's the connection? Cashing out before big economic crash comes, or just before business turns bad. Link to comment Share on other sites More sharing options...
Chang_paarp Posted January 16, 2006 Share Posted January 16, 2006 I know it is only a formality given who is selling, but selling 49.1% of a major infrastructure company to a foreign company. Does that need aproval by some authority? The Thais are not know to like outsiders controling their companies. In Oz the foreign investment review board would have to aprove such a deal. (It is advised by the govenment.) Link to comment Share on other sites More sharing options...
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