Thailand to finalize plan to purchase back Thaicom: minister

16:50, June 21, 2010      

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A final decision should be made in two weeks whether the Thai government should buy back the satellite business from Singapore's Temasek Holdings, Information and Communications Minister Juti Krai-rirk said Monday.

The Nation online reported that the minister said he has yet to consult a legal advisory team and a special panel that was set up to conduct parallel study on the issue.

The two teams would consider the buy-back option based on a Supreme Court ruling on the satellite business.

The studies should be completed within two weeks, Juti said.

On June 15, Deputy Prime Minister in charge of security affairs Suthep Thaugsuban said Thailand's plan to buy back Thaicom from Temasek Holdings is for national security.

Satellite operator Thaicom was formerly known as Shin Satellite before it was floated and was founded by convicted ousted former Thai premier Thaksin Shinawatra.

It was part of the Shinawatra family's Shin Corp conglomerate, which was sold to Temasek in January 2006, sparking a political uproar in Thailand.



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