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China Mobile set to buy stake in Thailand’s True Corp: sources

BANGKOK: State-owned China Mobile Ltd is poised to buy an 18 percent stake in Thai telecoms group True Corp valued at around $581 million, people familiar with the matter said, in Thailand's first major corporate deal since a coup last month. True Corp, backed by billionaire Dhanin Chearavanont's Charoen Pokphand Group, also plans to offer new shares via a rights issue on the basis of seven new shares for 10 existing shares, one of the sources said. The deal is part of the Thai group's long-term plan to secure a foreign…