Previously, CAT Telecom filed a case with the Thai civil court seeking 860 million baht in compensation.
Shares in Singtel closed 1 cent lower, or 0.4% down, at $2.32 on August 20.
The Thai associate of Singapore Telecommunications (Singtel), Advanced Info Service Public Company (AIS), announced on August 20 that it has resolved the tower dispute settlement and entered into a tower service agreement with state-operator CAT Telecom Public Company for the long-term use of CAT’s 155 telecommunication towers.
The companies entered into an agreement valued at 186 million baht ($8.1 million) where AIS’s subsidiary Advanced Wireless Network Company (AWN), agrees to rent the telecommunication towers from CAT. CAT, in turn, has agreed to use the space and maintenance service from AWN for five years till Sep 15, 2025. The deal began on July 1, 2020.
