Looked odd to me as well. Reminds me of Telstra lauding and...

Looked odd to me as well. Reminds me of Telstra lauding and buying PCCW or other grand empires. The announcement only talks about it being the biggest operator in Bangkok... and they're doing a raising for that?!?

So now they'll be the leader in Thailand... but then there'll be costs from consolidating thaicar with one2car, and what's the actual business benefit? That wasn't even a feature of the announcement or motivation for the deal. Sounds like just being bigger for the sake of it, whatever the cost. So question marks about the business all round.