The telecom law, which has led to much of his losses, passed the lower house committee Thursday, and could pass the full House as early as next week.

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It stems from a law in 1997 which bust Maroc Telecom's monopoly.

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"The Senate committee that passed the bill examined the activities of the telecom companies and concluded they were not violating the law, " he said.

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Even worse, he amended Thai law in order to legalize his family's sale of its 49% stake in the telecom technology company Shin Corp. (often referred to by Thais as the "crown jewel") to Singapore's Temasek Holdings.

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