International legal practice Norton Rose Group has advised True Corporation Public Company Limited on its acquisition of Hutchison’s mobile telecommunications companies in Thailand. The transaction is valued at approximately US$200 million and closed at the end of January 2011.
As part of the deal, True has entered into new marketing contracts with the state-owned operator, CAT Telecom for wholesale and retail businesses on CAT’s HSPA network. The deal will facilitate the provision of 3G service in Thailand by CAT and True.
The team was led by partner and head of Bangkok office Phillip John assisted by Of counsel Prakasit Itharat in Bangkok and associate Michael Turnbull in Hong Kong.
Phillip John, corporate partner, commented:
“We were delighted to assist True in what is a landmark deal in the Thai telecoms sector. We are continuing to see considerable activity in this sector, having also recently advised TOT, the state- owned telecom operator, on its first 3G network expansion financing.”
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