BANGKOK - Thai Prime Minister Thaksin Shinawatra said on Monday
his family has sold its controlling stake in Shin Corp, the telecom
giant he founded, to a Singaporean firm.
"The deal is finished," Thaksin told reporters.
"My children made the decision, because they want their father to
focus on politics and to avoid public criticism about conflicts of
interest," Thaksin said.
Thaksin did not name the buyer of his family's 49.6 percent stake
in the company, but Singapore investment firm Temasek was widely
reported to be the buyer.
The deal's estimated value is 73 billion baht (US$1.9 billion),
making it the biggest corporate takeover in Thailand. - AFP/ir
