In the year On March 1, 2023, dtac successfully merged with True to create a new telecom-technology champion in Thailand, True Corporation (True Corp.). With an enterprise value of nearly $20 billion, the merger is the largest in Southeast Asia’s telco industry. The aim is to become a new telecom-technology champion driven by digital transformation to achieve economic growth in Thailand.
Speaking on the excitement of the merger and the opportunities it will create for customers and employees, Telenor Group CEO and President Siegv Breck said: “This merger is a significant milestone for the Thai telco industry and for Telenor as a company. We are excited to join forces with CP Group. Our combined resources, infrastructure and expertise It enables us to provide innovative and efficient services to people across Thailand and play a key role in accelerating the country’s digitalisation.
True Corp. It serves an estimated 60 million customers across mobile, broadband and TV services. Telenor and CP Group will be equal owners with equal representation on the company’s board of directors. Telenor representatives include Jørgen C. Arentz Rostrup (Vice Chairman), Ruza Sabanović and Lars Erik Telman.
Echoing Brekke, Jørgen C. Arentz Rostrup, CEO and Head of Telenor Asia, added: “We are excited about what opportunities the new company, a true corporation, will bring to the workforce. This is an opportunity for everyone to grow at a telecom technology company with the scale and resources to accelerate Thailand’s digital transformation journey.” By working together and bringing together the best of both companies, the team at True Corp will have a huge positive impact in Thailand.
Also Read: Telenor Announces Completion Of Merger Of dtac And True In Thailand