Billionaire Sarath Ratanavadi is merging his Bangkok-listed Gulf Energy Development PCL with Intouch Holdings, which controls Thailand’s second largest mobile phone operator by subscribers, Advanced Info Service.
Under the plan, the two companies will merge and form a new company with a simpler shareholding structure, Gulf Energy said “This will help increase efficiency which will enhance flexibility of the business and potential for future business growth,” Gulf said in a statement.
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