dtac continues its normal operations and will run its business independently until completion of the merger transaction, expected within 2022
18 February 2022 – Following a period of due diligence, Total Access Communication PLC., or dtac, announced that the Company’s Board of Directors has approved the amalgamation with True Corporation Public Company Limited, or True, and approved for the Company to enter into an agreement with True to create a new telecom-tech company.
The transaction is subject to approval by the shareholders of both companies as well as customary regulatory approval. There is no impact to customers. dtac continues its normal operations and will run its business independently until completion of the merger transaction, expected within 2022.
Through a merger of equals, the parties aim to create a telecom-tech company poised to meet increasing customer expectations as well as the challenges of fast-paced global market disruptions. The new company will offer customers improved 5G coverage with better network quality, reliability and speed, as well as value-driven services with improved customer care.
The new company will contribute to Thailand’s efforts towards becoming a regional technology hub by introducing global technology advancements into attractive services and higher-quality products while creating employment opportunities in the forefront of digitization. This will include raising venture capital funding to invest in promising digital start-ups focusing on innovative new products and services for the benefit of all Thai consumers.
As announced on 22 November 2021, there will be a voluntary tender offer (VTO) through which all shareholders of dtac and True will have the choice to participate in the tender or continue as shareholders in the amalgamated company, which will be listed on the Stock Exchange of Thailand.
Both companies will continue to run their businesses independently until completion of the transaction, expected within 2022. The transaction is subject to approval by the shareholders of both companies as well as customary regulatory approval. The companies had filed a merger notification with the NBTC on 25 January 2022.