The boards of the telecom operators True Corporation and Total Access Communication (DTAC) have agreed to call their merged company True Corporation.
A joint shareholders’ meeting will be held on Feb 23 to approve the new corporate structure and other details related to the amalgamation, the companies said in statements to the Stock Exchange of Thailand on Thursday.
The merger, to be completed within the first quarter of this year, will result in the creation of a telecom giant with a total of 55 million mobile subscribers, compared with 45 million for the current market leader Advanced Info Service Plc (AIS).
ADVERTISEMENTHowever, the companies will continue to serve their customers under the existing True Move and DTAC brands for at least the next three years. This was one of the conditions set by the National Broadcasting and Telecommunications Commission (NBTC) for approving the deal.
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