An arm and a leg: Shinawatras ready to sell Shin for USD2 billion

18 Jan 2006

Thailand’s Shinawatra family will sell off its entire stake in conglomerate Shin Corp to Singapore’s Temasek Holdings without any buy-back option in the next two weeks, according to reports in The Nation newspaper. According to sources close to the deal quoted by the paper, the agreement is worth THB80 billion (USD2 billion) in cash, and doesn’t involve a share swap for Temasek’s stake in Singapore Telecom (SingTel), as previously rumoured.

Thai Prime Minister’s Thaksin Shinawatra’s family and in-laws, the Damapongs, jointly hold a 49.61% stake in Shin Corp, giving them a 42.9% stake in Thailand’s largest mobile operator, Advanced Info Services (AIS). Shin Corp also has stakes in Asian satellite operator Shin Satellite, television broadcaster iTV, budget airline Thai Air Asia and finance house Capital OK. The Shinawatras have been quoted in the Thai press as saying they want to end all connections with the company to end accusations of conflicts of interest from political opponents and the general public.

Thailand,SingTel Group, Advanced Info Service (AIS),


Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate


Have feedback, corrections, or story ideas? Send them to

Browse Past Issues


Filter CommsUpdate by the following categories or use the search.


Visit our help page information on performing advanced searches, including how to restrict the results by country or company.


CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.