Allen & Overy advises on the merger of dtac and True to create a new telecom-tech company
Partner - ASEAN
24 February 2022
BANGKOK – Allen & Overy is advising Telenor Group (“Telenor”), the Norwegian state-owned telecommunications company and one of the world's largest mobile telecommunications companies, in connection with the merger of Thailand’s Total Access Communication Public Company Limited (“dtac”) and True Corporation Public Company Limited (“True”) to create a new company (“the Company”).
The Company is a merger of equals and is supported by the significant shareholders of dtac and True, Telenor and Charoen Pokphand Group Company Limited (“CP Group”), the largest conglomerate in Thailand. The current operations of True and dtac will continue to run their businesses independently until the transaction is completed, which is expected to be within 2022. The merger is subject to regulatory and shareholder approvals.