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Thailand's True Corp to invest $820 mln in mobile, broadband this year
March 6, 2014 / 4:05 AM / 4 years ago

Thailand's True Corp to invest $820 mln in mobile, broadband this year

BANGKOK, March 6 (Reuters) - Thai telecommunications group True Corporation PCL plans to invest 26.5 billion baht ($820 million) this year, primarily to expand its mobile and high-speed broadband Internet businesses as it targets revenue growth of 7 to 9 percent.

True, majority-owned by billionaire Dhanin Chearavanont’s Charoen Pokphand Group, plans to spend 15.5 billion baht on mobile, 10 billion baht on broadband and 1 billion baht on cable television, the company said in a statement on Thursday.

True is Thailand’s only company operating a full range of telecoms services, from mobile and fixed-line phones to broadband Internet and cable television.

In December, the company raised $1.8 billion by listing an infrastructure fund to help pay debt.

$1 = 32.3100 Thai baht Reporting by Khettiya Jittapong; Editing by Christopher Cushing

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