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dtac notifies SET that the Tender Offerors have declined the Voluntary Tender Offer; parties remain committed to the amalgamation

November 22, 2022 -  Total Access Communication Plc. or dtac has informed the Stock Exchange of Thailand that the companies jointly owned by Telenor and CP Group (Citrine Global Company Limited and Citrine Venture SG Pte. Ltd), have declined the Voluntary Tender Offer (VTO) to the shareholders in dtac and True in compliance with law. Companies jointly owned by Telenor and CP Group announced a VTO to purchase the shares in dtac and True under the tender offer regulation of the Securities and Exchange Commission of Thailand.  The VTO was made subject to conditions precedent which have not been met within the one-year period. Therefore, in line with the tender offer regulations, the parties have denounced their intention to carry out the VTO. The shareholders and investors of True and dtac can continue to trade shares in the market or remain as shareholders in the new company, which will be listed on the Stock Exchange of Thailand. The parties are working on concluding necessary assessments to proceed with the amalgamation and finalize the transaction within the first quarter of 2023. The new company as a Telecom-tech company will have more opportunity to serve customers and increase value of investment for…

Telenor Asia Expands Presence in Singapore to Capture Regional Opportunities

October 25, 2022 – Telenor Group, a leading global telecommunications company serving 175 million customers in the Nordics and Asia, announced the formation of Telenor Asia, a more independent regional entity with headquarters in Singapore. Telenor Asia will take on full oversight and responsibility for the company’s operations in Thailand, Bangladesh, Malaysia and Pakistan. “The strengthened team at our Singapore headquarters will add value to our operations and safeguard our interests in the region. This will also help us ensure value creation of our assets, and we will explore structural partnerships or, in the future, a potential IPO,” said Jørgen Rostrup, Head of Telenor Asia. “The foundation for our continued growth in Asia is how our services help improve people’s lives and empower societies. In a recent survey we conducted of 8,000 people in South and Southeast Asia, a resounding 93% said that mobile connectivity improved their quality of life,” he added. Each market will now have dedicated Investment Management teams. These teams will take on an asset manager role and represent Telenor’s interests in local boards. The team in Singapore will also be strengthened with expertise in finance, operations, risk management, governance, people management and responsible business. In 2021,…

5 aspirations from the telecom-tech company – providing excellent customer benefits and promoting Thailand to become a leading digital economy in ASEAN

October 18, 2022 - As the global economy is entering an era of volatility marked by technological advancement, Thailand is transforming itself to compete on the global stage. The core purpose of merging the businesses of True and dtac is to enable quicker and more comprehensive nationwide rollout of digital infrastructure and to harness critical and emerging technologies as an enabler of new possibilities to drive sustainable change and advance human rights by promoting equitable access to digital technology – to support the Government’s Thailand 4.0 strategy. The parties have been clear from the start – this is a technology-motivated transaction to bring Thailand the communications networks it needs and deserves to compete within ASEAN and beyond. The Amalgamation will facilitate the rollout of 5G and related technology in line with the ‘Thailand 4.0’ economic model. The parties will work towards transforming Thailand into an economy defined by technology and innovation by combining True and dtac’s complimentary skills and resources to unleash growth across the Nation. As part of this journey, the parties urge NBTC to, in accordance with international best practice, allow dtac and True to engage with NBTC on the merger and ensure that the merger safeguards consumers…

Nice advantages that make you smile from ear to ear when dtac and True merge into Telecom-tech Company

The Telecom-tech Company will be a new company utilizing the synergies from the more than 30 years of telecommunication expertise of dtac and True. This company defines itself as a technology-oriented telecommunication service provider with a mission to satisfy customers with advanced infrastructure, innovation and services towards sustainable growth and cultivation of a solid digital ecosystem. If we are customers of Telecom-tech Company, by being existing customers of dtac or True, what services or care can we expect to receive under Telecom-tech Company? Better, faster network with improved coverage in Thailand. Improved mobile experience with 5G and 4G broadband internet with more efficient services due to merged coverage, and more capacity for the company’s 50 million customers by providing the best access across all provinces in Thailand. With access to True and dtac’s combined infrastructure, customers will get the ultimate mobile experience. More convenience and more service centers and call centers to provide better access for customers There are more service centers to provide better customer support with after-sales services. dtac shops and True shops nationwide will provide customers with a seamless service experience and innovations to enhance customer convenience. Customers can expect nationwide service 24 hours every day. Better…

Our missions in creating a Telecom-tech company

One of our missions in creating a Telecom-tech company with the support of Telenor Group and CP Group is to further develop Thailand’s digital economy and we will raise 200 million USD or 7.3 billion baht to support Thai startup eco-system including by establishing a new venture capital fund (VC). The VC will invest in promising startups to promote innovative technologies, creating opportunities for stronger Thai startups, and supporting them to become successful at regional, national and international levels. The new company will be equipped with advanced technology and Telenor’s industrial knowledge and international experience. The VC hopes to create thousands of new job opportunities in the tech industry. For a greater economic growth and stronger employment, investing in Thai start-ups can bring about significant benefits for the Thai economy. The VC plans to support Thai startup eco-system and tech start-ups and expects to bring about significant benefits for the Thai economy with estimates from THB15-30 billion (~USD450-900 million) in potential GDP. The VC also aims to reach out to foreign start-ups to relocate to Thailand while stimulating investment in new tech frontiers, such as deep and advanced tech, space, artificial intelligence and even the metaverse.  

Telenor – Building a new telecom-tech company in Thailand for growth 2.0

During a briefing with media in Thailand, Sigve Brekke, President and Chief Executive Officer (CEO) of Telenor Group and Jorgen Rostrup, EVP and Head of Telenor Asia, Telenor Group talked about Telenor’s ambition to build great telecom-tech companies in Thailand and Asia. The roundtable discussion happened one day after Telenor and Axiata received regulatory clearance in Malaysia to move on to the next steps with the Celcom-Digi merger in that market. When Telenor enter the Thai market 20 years ago, the company’s vision was that every Thai deserves a mobile phone and should be able to afford it. Telenor launched market-changing initiatives such as per-second billing and new marketing and distribution models to bring affordability to the masses. Today, Thailand’s mobile phone penetration is 86% with 98.5 million mobile connections. That was what Sigve Brekke called Telenor’s growth 1.0 in Thailand. For the next 20 years, Telenor’s growth in Thailand will look very different. Sigve Brekke said that the telecommunications industry is facing a perfect storm with new technologies – artificial intelligence, Internet of Things and 5G - coming together. It will no longer be about connecting people together but connecting machines and physical objects to the Internet. There will…