True transfers USD430m additional assets to infrastructure fund

20 Jan 2015

Reuters reports that Thai quadruple-play telecoms group True Corp will transfer telecoms assets worth THB14 billion (USD430 million) to its True Telecommunication Growth Infrastructure Fund (TRUEGIF) in an attempt to boost revenue this year. True launched the infrastructure fund in December 2013 with a USD1.8 billion initial public offering (IPO), as part of a restructuring plan to cut debt. The group, controlled by billionaire Dhanin Chearavanont, plans to transfer assets including up to 8,000km of fibre-optic cables and 350 telecoms towers to the fund, it said in its latest statement to the Stock Exchange of Thailand (SET).

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