State enterprise CAT Telecom insists it has no immediate plans to acquire a stake in Thaicom from InTouch Holdings, saying the government's planned satellite project has been suspended for a year.
CAT has made no preparations for a deal, according to Col Sanphachai Huvanandana, CAT Telecom's president.
Meanwhile, Thaicom chief executive Anant Kaewruamvongs said that any deal is beyond his responsibility.
The executives' remarks came after a report in local media that CAT had made a deal with InTouch to acquire its Thaicom stake at 8.50 baht per share. InTouch holds a 41.13% stake in Thaicom.
InTouch informed the Stock Exchange of Thailand on Thursday that the company had yet to receive any tender offer proposed by CAT Telecom.
Col Sanphachai told the Bangkok Post that the company has no plans to buy a Thaicom stake.
"The satellite business is just one sector of opportunity exploration for enterprises, but we [CAT] have yet to move to acquire Thaicom," he said.
CAT has three satellite ground stations nationwide, in Nonthaburi, Chon Buri and Udon Thani provinces.
Thaicom operates three satellites under a revenue-sharing concession regime: Thaicom 4 (iPSTAR), a broadband satellite; and Thaicom 5 and Thaicom 6, both of which are broadcasting satellites.
