ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Business deals

Thailand's Gulf Energy to take top InTouch stake in telecom push

Deal seen as move to bring Thaksin-founded company more firmly under local control

Gulf Energy, Thailand's largest private power producer by market value, is upping its stake in InTouch, a major telco.(Source photos by screenshot from Gulf Energy Development and Intouch Holdings websites) 

BANGKOK -- Thailand's Gulf Energy Development is set to fully enter the country's telecommunications industry after reaching a deal to take a hefty stake in mobile network operator InTouch Holdings.

In a tender offer that closed on Wednesday, Gulf Energy secured subscriptions for 747 million shares, or 23.3% of all issued shares in InTouch, which itself is a major shareholder of Thailand's largest mobile telco giant.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more