Thai regulator approves $7.3 billion telecoms carrier merger

By ELAINE KURTENBACH
AP Business Writer

BANGKOK (AP) — Thailand’s telecoms regulator has agreed to allow a merger between the country’s two main phone carriers in a decision that raises worries over whether reduced competition will harm consumer interests. The $7.3 billion deal will merge True Corp. and smaller DTAC, a subsidiary of Norway’s Telenor Group. It will give the new entity, to be called NewCo, 51 million subscribers. The next largest telecoms carrier, AIS, or Advanced Info Service, has 44 million subscribers. The regulatory go-ahead resulted from a 3-2 vote in favor, reports by analysts and media said. Critics of the deal said it reflects the sway of the huge family-run conglomerates that own big chunks of Thailand’s industries.