BANGKOK -- Thailand's telecom regulator declined on Thursday to halt a merger that will create the country's largest network operator, in effect turning the local market into a duopoly despite opposition from industry experts, competitors, consumer groups and politicians.
Through cross-share purchases, the merger will combine True Corp.'s 32 million subscribers with the 19 million of Total Access Communications (DTAC), the Thai arm of Norwegian operator Telenor, under a new company that will command around 54% of the local mobile communications market.
