Gulf Energy Development, a power producer, agreed to acquire the remaining 81% stake in Intouch, a mobile phone operator holding company, for $5.4bn. As part of the deal Gulf will acquire Advanced Info Service, a mobile phone company. "INTUCH and ADVANC are decent companies and have the potential to generate cash flow for the company since they are leaders in businesses relating to telecommunications infrastructure in Thailand which will be beneficial to the growth and development of Thailand. Such businesses have high growth potential and Gulf Energy is confident that such investments will continuously generate returns for Gulf Energy in the long run," Gulf Energy.