True Corporation Plc (TRUE) has announced that its shareholders have approved its merger deal with Total Access Communication Public Company Limited (DTAC), Thailand’s third largest GSM phone company after AIS and TRUE itself.
The announcement was made by TRUE President Manat Manavutiveth, following the company’s annual shareholder meeting.
Manat said the move would enable the company to evolve from a telecommunications company into a technology company. If successful, the merger is also expected to expand TRUE’s business capacity amid challenges in the fast-paced telecommunications and technology markets.
The president added that the new company resulting from the merger would become a leading, high-performance telecommunications service provider. He added that it would be a top-tier solution provider for artificial intelligence, cloud computing, Internet of Things, Smart City innovations, digital media and space technology – all with business applications.
Manat nevertheless indicated that the merger is still being vetted by the responsible government agencies, with business to continue as usual until the deal is finalized.