CAT Telecom ordered to negotiate lower price for Hutch
Thailand’s ICT ministry has ordered state-run CAT Telecom to re-negotiate the price it had agreed with Hutchison Telecommunications International (HTI) to buy 100% of their joint venture CDMA mobile operation in Bangkok and central provinces of the country, reports Telecompaper.
CAT had earlier agreed to buy out HTI, a wholly owned division of Hong Kong’s Hutchison Whampoa, from Hutchison CAT Wireless Multimedia (HCWM, operating under the Hutch brand) for THB7.2 billion (USD230 million), in a move given Cabinet approval in April, but the ministry has now decided that the price should be lowered to around THB4 billion.
