Thai top three mobile firms’ shares surge after Jasmine misses 4G license payment

March 21, 2016
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Shares in Thailand’s top three mobile telecoms operators surged 5-10 percent on Tuesday after broadband Internet firm Jasmine International missed a deadline for an initial payment toward a $2.1 billion fee for a 4G mobile license.

Market leader Advanced Info Service Pcl saw its stock shoot up 5 percent, while second-ranked Total Access Communication Pcl climbed 10 percent, outperforming a 0.44 percent gain of the main Thai index.

Third-ranked True Corp’s stock was 1.2 percent higher, while Jasmine shares were suspended from trading on Tuesday.

(Reporting by Khettiya Jittapong; Editing by Kenneth Maxwell)