Norway’s Telenor is considering merging its mobile operations with Charoen Pokphand Group (CP Group) , Telenor recently said in a statement.
The two parties are exploring a merger of their telecom units in Thailand, Dtac and True, which could form a new mobile market leader in the country. Dtac is Telenor’s subsidiary in Thailand while True is Charoen Pokphand Group’s business in the field of media and telecommunication, according to the company’s website.
“The merger will aim to establish a leading telecommunications company in the country. It remains to be agreed on important points and it is not certain that the discussions will lead to a final agreement “, Telenor said in a stock exchange release.
Telenor added in the announcement that it will not “provide further details or comments at this time”
In its latest quarterly report, True stated that the company had 32 million subscribers. Dtac, for its part, reported 19.3 million subscribers in the third quarter.
CP Group has businesses in areas such as agriculture, retail, telecommunications, real estate, the automotive industry, pharmaceuticals, and finance. According to Bloomberg, the group is owned by billionaire Dhanin Chearavanont, who in September had a fortune of 4.8 billion dollars.