Advanced Info Service Public Company Limited (SET: ADVANC), Thailand’s biggest telecommunications group, is weighing options for its tower business, including a stake sale, said people with knowledge of the matter as reported by Bloomberg.
The share price of ADVANC rose THB4.00 or 2.05% to close at THB199.50 per share on Thursday.
According to the report, ADVANC has held talks with potential advisers for a strategic review of the assets. More importantly, the company noted that it is considering creating an infrastructure fund for the assets that could be listed in the Thai stock market.
Sources said that other telecommunication companies are showing interest in the assets that could be valued between $2 billion to $3 billion in transactions.
Still, the company has yet to make a final decision on the sales of its tower business as the sources noted that it could decide against the transaction as well.
