Thailand is reported to have bought a major share in Thaicom PCL from Temasek Holdings Pte. Ltd. Temasek Holdings is the state owned investment Company of Singapore.

This move has considerably increased the prices of the shares of Thaicom, which is a satellite operator. The shares have increased up to a remarkable 29.4%.

In 2006, Temasek had bought Shin Corp. This organization was established by Prime Minister, Thaksin Shinawatra and was a telecommunication corporate.

However, there was a storm over the deal. This resulted in Mr. Thaksin’s ouster from office.

Prime Minister, Abhisit Vejjajiva, said that the Government is keen on getting the share back because of security issues.

Recently, Thaicom’s bandwidth was utilized by protesters for broadcasting anti Government slogans. The Government had reportedly asked Thaicom to do away with the signal. Thus, many campaigners took control of the station.

The price of shares was limited as the stock market’s daily limit is 30%. Stock Exchange of Thailand Index recorded a rise of 1.5%.

Many investors tried to cash in on the situations as there was wide hope that the Government will shell out a premium, in order to get a share in Thaicom.

Thaicom has the permission to operate satellites that are used to broadcast telephone, television and broadband signals up to 11 years.