Thailand-based telecom service provider Telephone Organization of Thailand (TOT) has acquired CAT Telecom’s 42 per cent stake in loss-making GSM operator Thai Mobile for about 2.4 billion baht.

Thailand-based telecom service provider Telephone Organization of Thailand (TOT) has acquired CAT Telecom’s 42 per cent stake in loss-making GSM operator Thai Mobile for about 2.4 billion baht.

Thai Mobile has debt of around 6 billion baht. The buyout will raise TOT’s stake in Thai Mobile to 100 per cent. TOT has plans to expand Thai Mobile’s subscriber base and invite foreign partners to invest in building Thai Mobile’s W-CDMA network. CAT Telecom will be able to focus more closely on the nationwide rollout of CDMA2000 1xEV-DO services after selling the stake.