True and Dtac have merged to form a new entity that aims to bridge the digital divide and enable the digital transformation of local businesses in Thailand.
The new company, called “True Corporation Public Company Limited”, aims to become the country’s leading telecom-tech company based on the strengths of the amalgamated companies. Speaking at a press conference at Samyan Mitrtown in Bangkok, the executives of the new corporation revealed their vision for Thailand’s limitless possibilities with broader access to digital connectivity, technology investments, and connected services.
True and Dtac will now account for 54% of the telecom market share in Thailand, with AIS following closely with 46%. After receiving approval from the National Broadcasting and Telecommunications Commission, True, under the CP Group, and Dtac, owned by Telenor Group, formed a new company under an equal partnership scheme. Even though it is an equal partnership, they will retain the company’s name as “True Corporation”.
The merger will create a market leader in mobile subscribers, with 33.8 million TrueMove H users and 21.2 million Dtac members. In addition, the company has 5 million TrueOnline users and 3.2 million TrueVision users.
The company aims to be the undisputed network leader, with plans to develop 5G coverage to cover 98% of Thailand’s population by 2026. The new corporation will also invest in digital startups, raise 7.3 billion baht for its venture capital fund with partners, and be committed to being carbon-neutral and waste-free by 2030. As part of its strong ESG standards, the company also aims to be a net-zero greenhouse gas organization by 2050. (NNT)