Thailand’s largest provincial fixed line telco TT&T has suspended a THB50 billion (USD1.5 billion) investment plan due to the global financial crisis, in line with recent announcements by cellcos AIS and DTAC to scale back rollouts, reports the Bangkok Post. Prasitchai Kritsanayunyong, executive vice-president of TT&T, said the company would have to indefinitely postpone 3G and other new business areas that required high investments, because of the difficulty in obtaining funds in the midst of the crisis. TT&T had scaled down its overall investment plan this year from THB2 billion to no more than THB800 million, after it filed a petition with the Central Bankruptcy Court in April to enter a business rehabilitation plan for debt restructuring. Mr Prasitchai said TT&T would still apply for a 3G licence once the National Telecommunications Commission (NTC) issues them, hopefully next year, and that the company would continue to seek prospective foreign partners, likely in Asia.
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