Telenor, CP Group to merge Thai telecom businesses, launch VC fund

Thai conglomerate CP Group and the Norwegian telecom operator Telenor Group have agreed to merge their Thailand-based telecom service units, True Corporation and dtac respectively. The deal is estimated to create synergies three times larger than that Telenor recently created with Malaysia’s Axiata Group.

The merged company will also raise a venture capital fund of $100-200 million to invest in digital startups.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter