Thailand’s largest provincial fixed line operator TT&T has posted a 28% year-on-year drop in revenues to THB744 million (USD24.5 million) in the second quarter of 2011, as its core traditional telephone services continued to decline. The sales fall was in contrast to the telco’s former joint venture partner Jasmine International, which as CommsUpdate reported earlier this month, achieved a 29% year-on-year rise in broadband network turnover to THB1.55 billion in the April-June quarter; TT&T was formerly part-owner of Jasmine’s Triple T Broadband unit but was forced to give up its stake when it entered debt rehabilitation. However, TT&T is planning a relaunch in the fixed broadband segment, as CommsUpdate wrote that on 6 May 2011 the telco received court approval to increase its capital, allowing it to seek new partners over the next three years, and declared that ‘Broadband will be our flagship service generating revenues and cash flow to repay debts under the rehabilitation plan.’ TT&T subsequently announced that as of 4 July 2011, debts to 37 creditors worth THB3.4 billion were converted to equity on condition that the shares must not be sold in the first three years.
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