BANGKOK (AP) — China Mobile Ltd. has agreed to buy an 18 percent stake in Thai telecommunications and cable TV company True Corp. for $880 million, the highest profile corporate deal announced in Thailand since the military sized power in a May 22 coup.

True said Monday that the investment by the state-owned Chinese company is part of a 65 billion baht ($2 billion) share issue that will mainly be used to reduce the Thai company’s debt.