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The Silicon Review Asia

True and dtac to combine to Form New Telecom-Tech Company

True and dtac to combine to Form New Telecom-Tech Company

After the merger, the new company will empower a whole new generation to fulfill their potential to become digital entrepreneurs leveraging an advanced telecom infrastructure

The C.P. Group and Telenor Group has said that they would look forward to the merger of True and dtac to create a new telecom-tech company, which will bring the best of the two companies to the market.

The merger will create a leading telecom service provider with capabilities to accelerate Thailand's progressive digital technology agenda. The new company will look to raise venture capital funding together with partners of $100-200 million, which will be used to invest in upcoming promising startups focusing on new products and services.

Mr. Suphachai Chearavanont, Chief Executive Officer of C.P. Group and Chairman of the Board of True Corporation said, “The telecom and technology sectors are key to enabling Thailand to move up the development curve and to create broad-based prosperity.  As a telecom-tech company, we can help unleash the enormous potential of Thai businesses and digital entrepreneurs as well as attract more of the best and the brightest from around the world to do business in our country.”

Until the transaction for the merger is completed, True and dtac will continue to run their businesses independently. 

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