Telenor tries True Thai tie-up

Telenor has struck a so-called merger of equals in Thailand between its DTAC arm and rival mobile operator TrueMove.
The deal is structured as a share-swap with a ratio of 10.22 True shares for every DTAC share. Once the dust settles, Telenor and True will each hold an equal stake in the combined company.
The agreement may be structured as a merger of equals, but operationally it’s anything but. True is the country’s second-largest operator, with 32 million mobile customers at the en