Sarath Ratanavadi, who controls the Gulf Energy Development (Gulf) - Thailand’s biggest power producer by market value, is among the richest businessman on the Thai stock market. - The Nation Thailand/ANN
BANGKOK, April 19 (Bloomberg): Gulf Energy Development Pcl, Thailand’s biggest power producer by market value, offered to to acquire Intouch Holdings Pcl that control’s the nation’s largest mobile phone operator for as much as 169 billion baht (US$5.4 billion).
The Bangkok-based company, controlled by billionaire Sarath Ratanavadi, offered to buy 2.6 billion shares, or about 81% of Intouch, that it doesn’t currently own at 65 baht each, it said in an exchange filing. The offer price is 11% higher than Intouch’s close on Friday.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
