Telenor Group, the largest shareholder of Total Access Communication Plc (DTAC), has asserted that it has no intention of leaving Thailand and is optimistic that the planned merger with True Corporation will be finalized in July.
Speaking at a press conference held at the headquarters of DTAC, Sigv Brekke, president, and chief executive officer of Telenor Group, stated that the combined strength of two players in Thailand’s telecom market would create genuine competition, yielding the best results for consumers and the nation’s continued advancement in the digital age.
True and DTAC announced their intention to merge in November 2021, and shareholders approved the transaction in April of this year and are now awaiting approval. The merger would leave the newly consolidated company with approximately 50 million subscribers, surpassing AIS’s 44 million customers.
Jorgen Arentz Rostrup, executive vice president and head of Telenor Asia, said that the merger also provides the combined technical strength to construct a nationwide and international 5G network. He added that such a service would assist Thai businesses and customers in remaining competitive and bolster the country’s standing as a digital hub in Southeast Asia.
This week, Telenor also completed a major merger in Malaysia, as the country’s regulators approved a merger between Telenor’s Digi and Malaysia’s oldest mobile telecommunications provider, Celcom Axiata Berhad. (NNT)