Look at the technology sector since GULF took more shares in INTUCH therefore controlling ADVANC (AIS). When you talk to those working at AIS, there’s already a shift with the management/employees working there (ie. less middle management Singaporeans). GULF will probably extract as much cash as possible from ADVANC/INTUCH, but then I wonder what happens if/when TRUE takes DTAC and the market goes from 4 (I’m including NT here) to 3 players => better dynamics for the shareholders of these co’s.

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