Thai state-owned telecoms operator TOT is in the midst of revampingnits mobile virtual network operator (MVNO) business model andnhas so far awarded 40% of its 3G network capacity to a subsidiarynof Samart Corporation. TOT previously signed five companies asnMVNOs to resell its 3G services; however, growth was limited bynthe lack of coverage and capacity. However, with TOT currentlynexpanding its 3G network, we believe that the prospects for itsnMVNOs are brighter. This would in turn spur more similar deals from alternative telecoms operators.
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