Foreigners Allowed To Hold 49% Of Telecoms Shares

[george]

Move to allow foreigners holding 49% of shares in Thai telecoms

BANGKOK: -- The Ministry of Information and Communication Technology (ICT) has proposed for an amendment in a telecom law to allow foreign investors to hold a maximum of 49 per cent of total stakes in a Thai telecom firm.

ICT Minister Sora-at Klinpratoom said here on Saturday that foreigners had not been allowed to hold more than 25 per cent of total shares in a local telecom company and if this proposed amendment is approved, technology in telecom industry in the country would advance significantly.

Thailand, he said, has lost a good opportunity on improving technology in telecoms and technology transfer in the past because of share limits for foreign investors.

At present, the proposed amendment in the law is agreed in principle by the Senate, while a Senate special committee has been established to consider the proposal.

--TNA 2005-11-05