Massive DTAC, True merger to seek regulators’ blessing

Two of Thailand’s largest mobile operators will meet with regulators this week after word got out they are negotiating a possible merger.

Charoen Pokphand, the nation’s dominant conglomerate, and Norway’s Telenor will need regulatory approval to combine operations of No. 3 True and No. 2 DTAC, respectively, into a joint venture with more than 50 million subscribers between them. 

“Today is a step forward in that direction. We hope to empower a whole new generation to fulfil their potential to become digital entrepreneurs leveraging an advanced telecom infrastructure,” Suphachai Chearavanont, CP Group CEO and True Corp. Chairman, said in a statement this morning. 

They would seek to raise capital of US$100 to US$299 million to invest in promising digital startups focusing on new products and services. The companies also laid out plans for a shareholder…