Thai Post-Coup Legal Maze Delays Foreign Investment
This article is for subscribers only.
Thailand’s failure to auction licenses for high-speed mobile-phone services this week may have been sealed four years ago, when the military ousted Thaksin Shinawatra from power and began drafting a new constitution.
The nation’s highest administrative court yesterday said a constitutional review is needed to decide whether regulators have authority to conduct a sale, causing phone company stocks to fall on concern revenue from new services will be delayed. Last year, shares in industrial companies slumped after a similar decision halted 76 projects approved by the government.