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True stock debuts as CP finalizes Thai telco megamerger

New entity with Telenor's DTAC announces $200m startup fund

The new True Corporation debuts on the Stock Exchange of Thailand on March 3 at about 24 cents per share. (Source photos by Reuters and Yumi Kotani)

BANGKOK -- Thai mobile operators True and Total Access Communication (DTAC) have completed Southeast Asia's largest telecom merger, becoming Thailand's largest service provider and effectively leaving the market with only two major players.

The new entity, True Corporation, debuted on the Stock Exchange of Thailand on Friday at 8.35 baht (24 cents) per share. It was fluctuating near the opening price before publication. True and DTAC last traded separately on Feb. 17 and were delisted on Feb. 20. Their combined market capitalization stood at 294 billion baht.

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