True, dtac merger faces fresh delays - Mobile World Live

True, dtac merger faces fresh delays

22 NOV 2022

A recently approved merger between True Corp and dtac ran into another delay after a deadline to complete a voluntary tender offer for the shares of the units owned by CP Group and Telenor Group was missed.

The Securities and Exchange Commission of Thailand tender offer condition required the deal to be closed within a year from 20 November 2021. Having missed the deadline, the companies separately stated they declined to carry out the offer.

Telenor added it believes in the benefits from the merger and will actively support the deal, under which both companies continue to target an equal ownership share of around 30 per cent.

The Norway-based company said it aims to complete the transaction in Q1 2023.

A month ago, the National Broadcasting and Telecommunications Commission (NBTC) approved the long-delayed deal, adding a number of conditions aimed at protecting consumers.

The controversial deal faces continued opposition, with operator AIS petitioning Thailand’s Central Administrative Court to revoke the NBTC approval.

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Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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