Thaksin denied the allegations. "They just made up a beautiful term to use against me. There's no such thing in this government. Our policies only serve the interests of the majority of the people", he said. From 2002 to 2006, the stock price of Shin Corporation increased from 38 to 104 baht, up 173 percent, while the stock price of Shin Satellite fell. In the same period, the Stock Exchange of Thailand (SET) index rose 161 per cent, and the price of other major SET blue chip companies increased vastly more. Industry deregulation caused the market share of AIS to fall from 68 percent to 53 percent.