Shares in the Thai telecoms operator were up 13.3% in strong volume on Thursday following market talk regarding the potential move, and held on its gains following Telenor's comments.

In an emailed statement, Telenor added that it does not comment on rumours or speculation in the market.

(Reporting by Panu Wongcha-um, Scott Murdoch and Anshuman Daga; Editing by James Pearson)