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A pistillate sits astatine a True telecom work halfway successful Bangkok, Thailand, Monday, Nov. 22, 2021. Thailand's CP Group and Norway's Telenor Group announced Monday that they are successful talks to see a merger of their respective mobile telephone work providers successful Thailand, True and dtac.(AP Photo/Sakchai Lalit)

Major Thai telecoms companies DTAC and True Corp. program to merge to prosecute opportunities successful the tech sector, their genitor companies said Monday.

Thai National Broadcast reported that regulators were asking the companies for clarification astir the program announced by Norway’s Telenor Group, genitor institution of DTAC, and Charoen Pokphand (CP) Holding, the genitor steadfast of True.

They notified the Stock Exchange of Thailand that their associated venture, Citrine Global Company, volition marque an connection for each shares of the 2 telecom companies.

The caller institution volition beryllium a starring telecommunications work supplier capable to velocity up Thailand’s adoption of integer technology, Telenor said successful a statement.

It besides would marque it a person successful the industry, with 51.3 cardinal subscribers, 19.3 cardinal from DTAC and 32 cardinal from True. The existent marketplace leader, AIS, has 43.6 cardinal subscribers.

“The telecom and exertion sectors are cardinal to enabling Thailand to determination up the improvement curve and to make broad-based prosperity," it quoted C.P. Group CEO Suphachai Chearavanont arsenic saying.

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DTAC's stock terms jumped 9.1% connected Monday, portion True's soared 10.2%.

The recently merged institution volition use to beryllium listed connected Thailand's banal exchange, the companies said.

Jørgen A. Rostrup, Telenor enforcement vice president and caput of Telenor Asia said the program reflected the company's committedness to the region.

“Our entree to caller technologies arsenic good arsenic the champion quality superior volition beryllium a captious publication to the caller company," Rostrup said.

He said the caller institution plans to rise task superior backing to put successful promising integer startups focusing connected caller products and services for Thais.

The program was approved by the companies’ boards connected Friday aft a preliminary memorandum of understanding.

During the merger process DTAC, oregon Total Access Communication Plc., and True volition run arsenic usual, the companies said.

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