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CAT Telecom ordered to negotiate lower price for Hutch

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Breaking News. Image: GoodManPL (Pixabay).

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.


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