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True board approves infrastructure fund plan
2013-07-24 03:12:00| Telecompaper Headlines
(Telecompaper) The board of Thai communications group True has approved planned transactions for an infrastructure fund that aims to raise over THB 70 billion. True plans to sell certain infrastructure assets that can be shared with other operators to the fund and will lease back the infrastructure in a transaction that will not exceed THB 55 billion for a term of no more than fifteen years, to continue its operations in mobile, fixed, and pay-TV services. The plan will also see True take-out a stake in the fund that is no more than 33 percent. The company will use the proceeds from the asset sale to partially pay off debts with financial institutions and may also use some of the funds for future projects. The plan still needs to be approved by shareholders.
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Category:Telecommunications