Manager Online and TeleGeography reported that on 10 October 2011, Thailand’s largest mobile phone operator, AIS, withdrew its claim with the Thai Arbitration Institute against TOT, a state-owned telecommunications company.

AIS withdrew its arbitral claim against TOT following the withdrawal by TOT of its earlier demand for Baht 37 billion from AIS based on two allegedly unlawful amendments to the concession contract between AIS and TOT during the period when AIS’s founder Thaksin Shinawatra was prime minister.

TOT explained that it was now withdrawing its Baht 37 billion claim against AIS because there had been a misunderstanding over the facts and miscalculation of the damages suffered by TOT.

Interestingly, government and state-owned companies are reluctant to agree to arbitration, as discussed here.