Leading pay-TV operator CTH announced that it has entered into a partnership with a unit of GMM Grammy, confirming months of speculations of such a tie-up.
The transaction, first announced Monday, will see CTH LCO fully acquire satellite pay-TV unit GMM B. In exchange, GMM Grammy unit Z Trading will own 10 percent of CTH.
According to reports, GMM Grammy approved of the share swap agreement on Monday.
The companies were rumored by experts in Thailand to be planning such a partnership for several months. With the plan’s confirmation, reports say the exchange is set for completion this month.
The companies will retain their names following the transaction, reports say.
Full content: Bangkok Post
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