TELECOMMUNICATIONS
Samart allots B500m for acquisitions to diversify operations
- Published: 14 Nov 2012 at 00.00
- Newspaper section: Business
Samart Corporation plans to spend 500 million baht on two merger and acquisition deals with utilities and content firms early next year.
The country's leading communications equipment firm announced a 300-million-baht acquisition yesterday of Teda Co, a local electrical sub-station.
President Watchai Vilailuck said the move is aimed at diversifying its portfolio in order to reduce its heavy reliance on telecommunications business. It also intends to cash in on the burgeoning media and sustainable power businesses to create fixed revenue streams.
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