True-DTAC Merger Faces Delay: Telenor

[snoop1130]

 

BANGKOK (NNT) - DTAC majority owner Telenor has said a planned merger of Thai telecoms firms DTAC and True Corporation will not take place as planned this year, but may still go ahead in the first quarter of 2023.

 

Plans for a new industry leader in Thailand, with a market share of more than 50% of mobile subscribers, have been held up over competition concerns since they were announced in November of last year.

 

According to Norway’s Telenor, the plan originally set a one-year deadline for carrying out a voluntary tender offer that would allow the US$8.6 billion merger to go ahead, but this condition was not met.

 

The Norwegian group said it still believed in the benefits of a deal, and that it continued to actively support an amalgamation of DTAC and CP Group’s True. It also said, "Telenor and CP Group continue to target an equal ownership share of around 30% of the merged company."

 

Telenor last month said it would seek clarifications from Thailand’s telecoms regulator over conditions imposed on the deal, including a price ceiling, price controls, cost structure verifications and other measures.

 

When asked whether the deal was at risk, Telenor Chief Executive Sigve Brekke on October 26 told Reuters that his company was "engaging in a dialogue with the regulator to better understand the conditions and what they entail."

 

Source: https://thainews.prd.go.th/en/news/detail/TCATG221125160252279

 

-- © Copyright NNT 2022-11-25

 

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[hotchilli]

17 hours ago, snoop1130 said:

When asked whether the deal was at risk, Telenor Chief Executive Sigve Brekke on October 26 told Reuters that his company was "engaging in a dialogue with the regulator to better understand the conditions and what they entail."

So merge first then sort out the details after....?

 

[Homburg]

On 11/25/2022 at 10:19 AM, snoop1130 said:

Telenor Chief Executive Sigve Brekke on October 26 told Reuters that his company was "engaging in a dialogue with the regulator to better understand the conditions and what they entail."

A big brown envelope would be my guess.

[lujanit]

This merger should have never been allowed to happen.  It violates the idea of free market competition.  Then again Thailand is not a free democracy.  Obviously the court who decided on the okay was adequately compensated.

 

Thailand has a judicial/court system that is so corrupt, every level of it.

 

From the unelected ‘PM’ down everyone who has the money can get what they want.  Just look at the red bull fiasco and the Thaksin n Yingluck farce.

[chickenslegs]

4 minutes ago, lujanit said:

Thailand has a judicial/court system that is so corrupt, every level of it.

 

It's the best money can buy.