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Norway’s Telenor, Thailand’s CP Group to merge telecom units

By Mensholong Lepcha

06:59, 22 November 2021

DTAC logo
DTAC logo – Photo: Shutterstock

Norway’s Telenor and Thailand’s CP Group are exploring the merger of their Bangkok-listed telecom units, Total Access Communication (DTAC) and True Corp.

Telenor said on Monday, that if the deal proceeds it will consist of a conditional voluntary tender offer (VTO) for all outstanding shares of DTAC and True, followed by a merger of the two companies.

The merger deal of Telenor’s DTAC and CP Group’s True Corp is valued at THB282.8bn ($8.61bn), according to Reuters.

DTAC and True Corp stocks surge

Telenor said the VTO price for DTAC shares will be THB47.76, which represents a 25% premium over DTAC’s one-month average share price.

VTO price for True Corp shares will be THB5.09, which represents a 25% premium to its one-month average share price.


2,023.32 Price
+0.470% 1D Chg, %
Long position overnight fee -0.0194%
Short position overnight fee 0.0112%
Overnight fee time 22:00 (UTC)
Spread 0.30

Oil - Crude

75.84 Price
+0.820% 1D Chg, %
Long position overnight fee -0.0211%
Short position overnight fee -0.0008%
Overnight fee time 22:00 (UTC)
Spread 0.030


15,936.00 Price
-0.160% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 1.8


37,443.70 Price
+1.010% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00

Investors cheered the news as DTAC shares jumped 9.7% higher to THB45.25, while True’s stock surged over 11% to THB4.82 on Monday in Bangkok.

DTAC-True merger

Telenor said on Monday that the new company will have around 55 million customers and a pro-forma revenue of about $6.9bn in 2020.

“Telenor believes there will be significant opportunities in Asia coming from digitalisation and technical advancements in the coming years, and the proposed transaction will advance Telenor’s value driven strategy to strengthen our presence in Asia,” said Telenor in a statement.

DTAC and True will continue to run businesses independently until the deal is completed which is expected by the end of the first quarter of 2022, Telenor added.

Read more: Telenor to sell Myanmar’s arm to Lebanon’s M1 Group

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The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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