Thaicom Divests CS Loxinfo Stake Sales to AIS is part of Thaicoms business transformation plan for the digital era

Telecommunication Press Releases Monday October 9, 2017 14:01
Bangkok--9 Oct--Thaicom

Thaicom Public Company Limited, one of Asia's leading satellite operators, announced the sale of CS Loxinfo Public Company Limited ("CSL")shares. Thaicom held 250,099,990 shares or 42.07% via its subsidiary, DTV Service Company Limited ("DTV") in CS Loxinfo. Advanced Wireless Network Company Limited ("AWN"), subsidiary of Advanced Info Service Public Company Limited ("AIS"), paid a tender offer price of Baht 7.80 per share. The total value of the transaction is Baht 1,950.78 million. CSL is one of Thailand's leading internet and media business companies.

Mr. Paiboon Panuwattanawong, Chief Executive Officer of Thaicom Plc. said:"The sale of CSL shares to AIS is part of Thaicom's business plan to consolidate the management structure of affiliated companies and optimize our business strategy. Thaicom has been facingfinancial and regulatory challenges. Selling CSL shares is part of our strategy to raise funds for working capital and investment in our core satellite and related businesses. It will also enable us to pursue new business opportunities independent of the current concession regime in Thailand. Last but not least, this divestment is also beneficial to CS Loxinfo in providing the company new business opportunities and strengthen their future business."

Thaicom has scheduled an Extraordinary General Meeting of Shareholders No. 1/2017 to inform the sale of CSL shares on Thursday, 30 November 2017, 14.00 hours at Vibhavadi Ballroom, Lobby floor, Centara Grand Hotel, Central Plaza Ladprao..


Latest Press Release

Symsoft Rated Tier 1 SMS Firewall Vendor by Mobile Network Operators for Second Consecutive Year

Symsoft , the operator division within CLX Communications AB (publ.) (XSTO: CLX), has for the second consecutive year, been named among an elite group of vendors to receive the highest rating of a 'Tier 1 SMS Firewall Vendor' by Mobile Network Operators...

Cambium Networks wins Best in Biz Social Responsibility Award

Cambium Networks, a leading global provider of wireless networking solutions, has been named a Silver winner in the Most Socially Responsible Company of the Year category of the Best in Biz Awards for 2017 . "Judging the Most Socially Responsible...

CLX Communications Launch Voice for IoT

- CLX adds Voice capability to IoT SIM cards , to provide a comprehensive IoT connectivity service supporting Data, SMS and Voice. Leading cloud-based communications provider, CLX Communications AB (XSTO:CLX), today announce that following successful...

Airborne Wireless Network ประกาศจัดส่งเลเซอร์เทอร์มินัลรับส่งข้อมูลทางอากาศของ Mynaric เพื่อเตรียมทดสอบ Hybrid Radio and Laser Communications Flight Test เร็วๆนี้

Airborne Wireless Network (OTC QB: ABWN) ประกาศในวันนี้ว่า เพื่อเป็นการเตรียมการจัดการทดสอบ Hybrid Radio and Laser Communications Flight Test เร็วๆนี้ ทาง Mynaric (ชื่อเดิม Vialight Communications) จะดำเนินการจัดส่งเลเซอร์เทอร์มินัลรับส่งข้อมูลทางอากาศ...

Airborne Wireless Network Announces Shipment of Mynaric#s Flight Laser Terminals for Upcoming Hybrid Radio and Laser Communications Flight Test

Airborne Wireless Network (OTC QB: ABWN) announced today that, in preparation of its upcoming Hybrid Radio and Laser Communications Flight Test, Mynaric (formerly Vialight Communications), has arranged for the shipment of two flight laser terminals and...

Related Topics