Thailand’s Gulf Energy and telco Intouch Holdings to merge

Thailand’s power producer Gulf Energy Development and Intouch Holdings, which controls the country’s top mobile phone operator AIS, said on Tuesday they would merge to create a major digital and energy infrastructure player in Southeast Asia.

The deal, expected to close by second quarter of 2025, will result in the dissolution of Intouch and Gulf and the formation of a new public limited company, with a registered capital of 14.94 billion baht ($414.77 million).