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Thai telecoms regulator allows $7.3bn True-DTAC merger

Agency hands market lead to CP Group subsidiary despite opposition

True and DTAC have said their aim in merging is not to raise prices but to invest jointly in Thailand's digital transformation. (Source photos by Ken Kobayashi)

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.

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