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Thai telecom firm Samart in talks to buy Axiata stake in Samart I Mobile -source
June 13, 2014 / 4:45 AM / 3 years ago

Thai telecom firm Samart in talks to buy Axiata stake in Samart I Mobile -source

BANGKOK, June 13 (Reuters) - Thai telecommunications firm Samart Corporation Pcl has entered talks to buy a minority stake in its Samart I Mobile Pcl business from Malaysia’s Axiata Group Bhd, a Samart Corp source told Reuters on Friday.

The source gave no details about an acquisition price for the stake in the Samart I Mobile network, nor the exact size of the stake targeted. The source declined to be identified as the person was not authorised to speak publicly on the matter.

Samart Corp is the majority shareholder in the mobile network company with a 57.36 percent stake, according to Bangkok stock exchange data, while Malaysian telecom firm Axiata has a 23.96 percent holding.

Samart I Mobile shares surged 8.1 percent to 2.96 baht on Friday, climbing at one point to 3.0 baht. The broader SET index was up 0.3 percent. (Reporting by Saranya Suksomkij and Viparat Jantraprap; Editing by Kenneth Maxwell)

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