Struggling Thai Telephone and Telecommunications has been thrown a lifeline by the state-owned Telephone Organisation of Thailand took a 38% stake in the company in exchange for a big reduction in its revenue payments to TOT, the Financial Times reports. TT&T, which has a concession to operate 1.5 million lines outside Bangkok, currently pays TOT 43% of revenues but has been struggling as revenue per line is only half the figure it estimated when it won the concession.
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