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Thai Prime Minister Calls Off Utility Share Swap.
Bangkok Post (Bangkok, Thailand)
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March 03, 2004 |
COPYRIGHT 2004 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright
Mar. 3--Prime Minister Thaksin Shinawatra yesterday ordered that the share swap deal between the Electricity Generating Authority of Thailand (Egat) and Banpu Plc be called off to ease tension over the planned privatisation of the utility.
Egat's labour union, which has been staging protests over the privatisation, had earlier voiced strong dissatisfaction with the share swap and demanded that Energy Minister Prommin Lertsuridej, who oversees the country's largest power producer, dismiss Egat's executives for malfeasance over the deal.
Under the transaction, Egat proposed to sell a 24.93 percent stake in Electricity Generating Plc (Egco) to Banpu and a ...
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Source: HighBeam Research, Thai Prime Minister Calls Off Utility Share Swap.