BANGKOK: State-owned China Mobile Ltd is set to buy an 18% stake in Thailand telecoms group True Corp via a private placement, valued at around US$581mil based on the current market price, as part of the Thai group plan to secure a foreign partner, sources familiar with the matter said.
True Corp, backed by billionaire Dhanin Chearavanont’s Charoen Pokphand Group, also planned to offer new shares via a rights issue on the basis of seven new shares for 10 existing shares, one of the sources told Reuters.
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