Thai conglomerate Shin Corp has dismissed local media reports that China Telecom Corp is in talks to buy a 38.53% stake in the company. Local papers claim that Prime Minister Thaksin Shinawatra’s family are looking to divest their majority stake in Shin Corp, something the company firmly denies. Shin Corp holds stakes in numerous telecoms businesses including mobile operator Advanced Info Services (AIS), data service provider Advanced Datanetwork Communications (ADC), ISP CS Loxinfo, broadband service provider Shin Broadband Internet and satellite provider Shin Satellite, which operates under the name Thaicom and has three communications satellites in orbit.
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