Thailand telecoms megamerger gets shareholder approval

True and DTAC shareholders approve creation of country's largest operator

The merger of True and Total Access Communication (DTAC) would give them more than half of Thailand's telecoms market, overtaking Advance Info Service (AIS), which leads at present with 40% of the market. (Source photos by Yumi Kotani)

FRANCESCA REGALADO, Nikkei staff writer

April 4, 2022 22:32 JST

TOKYO -- The shareholders of True Corp. and Total Access Communication (DTAC), Thailand's second and third mobile telecom operators by subscribers, approved on Monday the merger of their two companies, leaving final approval to regulators who must weigh monopoly implications.

True shareholders holding 99.37% of shares backed the merger at Monday’s annual general meeting. The proposed deal won the support of 89% of shareholders at a DTAC extraordinary general meeting held simultaneously.