Japan's Softbank and the Sumitomo Group have "essentially committed" to providing financial assistance to Thai state-owned telco TOT to support its second phase of 3G network rollout, reports the Bangkok Post. Both Japanese companies have agreed to provide soft loans to TOT in exchange for a joint venture stake in the telco. TOT CEO Yongyuth Wattanasin said that, before arranging a share acquisition by Softbank and Sumitomo, his company will appraise the value of its 2100MHz spectrum and its existing 5,320 3G base station sites (4,200 currently active), which were previously estimated to be worth roughly a combined THB30 billion (US$1 billion). Mr. Yongyuth said Softbank approached TOT with a financial offer last year, while Sumitomo showed interest this month. "We'll decide on the proposals by October," he declared, although added that TOT is considering other options for financial support for its second phase 3G rollout, including seeking local bank loans or entering a joint venture partnership with a private-sector Thai mobile operator.
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