THAI ready for privatization

THAI ready for privatization

BANGKOK (AFP): Thai Airways International (THAI) on Monday
cleared the first hurdle on the road to its long-awaited
privatization, receiving the green-light on plans to sell 400
million shares from the state enterprises policy committee,
officials said.

Committee chairman and Deputy Prime Minister Supachai
Panitchpakdi said the plan called for the sale of 300 million new
shares and 100 million old shares held by the Finance Ministry.
The plan was put forward by THAI advisors, including Credit
Suisse First Boston, he said.

Supachai said it would now be submitted to cabinet for
approval, either at a weekly meeting Tuesday or next week.
He said the share sale was expected to begin over the next three
months, given cabinet approval.

According to the advisors, the 400 million shares should be
sold to a strategic partner and to general investors, while the
Finance Ministry should maintain a stake of at least 70 percent.

Speculation has been rife in the media here in recent months
over reported talks between THAI and a range of potential
partners world-wide.