Thai Government won’t sue telecom companies for compensation

The government will not file civil compensation claims against telecom companies for possible losses to the state caused by past amendments to concession contracts, says Finance Minister Korn Chatikavanij.

Mr Korn said civil claims against local telecom firms would only penalise existing shareholders, who were not involved in past changes to concession agreements that may have been illegal.

“The [Supreme Court] verdict [in the Shinawatra family assets case] has nothing to do with current shareholders,” said Mr Korn.

“Although it is the same entity, [current shareholders] did not benefit nor were they involved [in the amendments]. To reverse the concession would only damage [current shareholders].”

The Supreme Court last month ordered the seizure of 46 billion baht in assets from the family of former prime minister Thaksin Shinawatra for implementing policies that benefited his personal interests, namely his shareholdings in telecom giant Shin Corp, mobile operator Advanced Info Service and satellite operator Thaicom.

via Govt won’t sue telcos.