AIS withdraws lawsuit against NBTC over True-DTAC merger approval

[webfact]

 

AIS, the telecommunications giant, recently took a surprising turn as it withdrew its case against the National Broadcasting and Telecommunications Commission’s (NBTC) decision, which recognised the merger between True Corporation and Total Access Communication (DTAC), its two direct competitors. The lawsuit contended that the NBTC board had failed to exercise its authority to regulate the deal according to existing regulations.

 

An AIS executive, who wished to remain unnamed, commented that the lawsuit was dismissed due to the belief that the merger process has progressed too far to be reversed. The management took the decision to withdraw the lawsuit within the past fortnight.

 

The NBTC board, on October 20, 2022, voted 3-2 against having the authority to either approve or reject the planned merger of True and DTAC. This in effect, paved the way for the merger. The board cited 2018 regulations which state that NBTC’s role is simply to govern mergers, not to accept or reject them.

In the early part of the year, True and DTAC finalised the merger of their operations and management structure, giving birth to the entity known as True Corporation. Both the subsidiaries, TrueMove H Universal Communication (TUC) and DTAC Trinet (DTN), registered under the merger scheme with the Department of Business Development on August 3, resulting in DTN ceasing to exist as a legal entity. DTN’s assets, debt, rights, and responsibilities have been transferred to TUC from August 3.

 

by Alex Morgan

Top Image via Wikipedia

 

Full story: https://thethaiger.com/news/business/ais-withdraws-lawsuit-against-nbtc-over-true-dtac-merger-approval

 

-- The Thaiger 2023-09-02

 

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[hotchilli]

4 hours ago, webfact said:

An AIS executive, who wished to remain unnamed, commented that the lawsuit was dismissed due to the belief that the merger process has progressed too far to be reversed. The management took the decision to withdraw the lawsuit within the past fortnight.

Can't fight blatant corruption when it goes to the highest levels.