Thai regulator monitoring $8.6b merger of Telenor’s Dtac and True Corp

People are silhouetted in front of an electronic screen showing logo of the True Corp. at a department store in Bangkok, Thailand, November 22, 2021. REUTERS/Athit Perawongmetha

Thailand’s telecommunications regulator on Wednesday said it was closely monitoring the proposed merger of Telenor ASA’s Total Access Communication Pcl and Charoen Pokphand Group’s (CP Group) True Corporation Pcl.

“On the merger, the agency will closely follow and investigate for the benefit of the public and country,” the agency’s acting secretary-general, Trairat Wiriyasirikul, said in a statement.

Telenor and conglomerate CP Group on Monday announced an $8.6 billion deal to merge their Thai telecom units. The new entity would compete with market leader Advanced Info Service Pcl (AIS).

The agency sees this issue as important and may affect competition in the telecommunication industry and users, Thailand’s National Broadcasting and Telecommunications Commission said in a statement.

“The agency will request that the companies clarify the need for a merger, the action plan and merger time frame, including the impact to users and the market, and potential remedies.”

Telenor’s chief financial officer Tone Hegland Bachke on Monday said the company was positive the merger would receive regulatory approval.

Reuters

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.