Telenor has gained control of second - ranked Thai cellco TAC, before the issuing of four 3G licenses, planned for mid-2006. Thailand's National Telecommunications Commission expects to unveil the country's 3G-licensing regulations in December, with licenses due to be awarded by the middle of next year. The regulator is planning to auction four blocks of 15MHz to 3G licensees and will allow foreign operators to bid for the lots in association with Thai partners. "Telenor is clearly reaffirming its commitment to TAC ahead of issuances of new 3G licenses," states Credit Suisse First Boston. Through its 49%-held Thai Telco Holdings subsidiary, Telenor has agreed to acquire a 40% stake in Ucorn, which owns 42% of TAC, from Thailand's Bencharongkul family for Bt9.2 billion (US$TK) in cash. Telenor already holds a direct 30% stake in TAC, and with the new transaction, its stake increases from 40.5% to 57%.
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