True Corporation

True Corporation Public Company Limited (TRUE) is a communications conglomerate in Thailand. True controls Thailand's largest cable TV provider, TrueVisions, Thailand's largest internet service provider True Internet and one of Thailand's largest mobile operators, TrueMove H, which is second only to AIS. As of August 2014, True, along with True Telecommunications Growth Infrastructure Fund, had a combined market capitalization of US$10 billion. TrueMove is also a partner of Vodafone Group. True is a subsidiary of Charoen Pokphand Group, which holds 50% of True's shares as of March 2017. It operates fixed-line (as a concessionaire of TOT), wireless, cable TV, IPTV and broadband services.

History

True Corporation was established on 13 November 1990 as TelecomAsia. The company had partnership with Verizon. The company was listed on the Stock Exchange of Thailand on . In 2001, TelecomAsia set up mobile phone subsidiary TA Orange with Orange SA. Orange sold off its stake in 2003 but the Orange brand was used until 2006.

In an effort to converge TelecomAsia's telecommunication business into a single brand, the company renamed itself to True Corporation in 2004, and streamlined its operations with subsidiaries Asia Infonet (renamed True Internet) and Orange (renamed True Move in 2006).

In 2006, True took a higher stake in UBC, Thailand's largest cable television provider that time, and renamed the company to UBC-True. On 24 January 2007 UBC-True was renamed TrueVisions.

On 8 May 2013, TrueMove H became Thailand's first mobile operator to provide 4G LTE commercial service on the 2100 MHz bandwidth.

On 11 September 2014, it was announced that China Mobile agreed to purchase 18 percent of its shares for US$881 million.

On 13 November 2014, Truemove H announced that it allocated 10 billion baht to expand its 4G LTE network in Thailand to cover 80 percent of the country's population.

In June 2015 Suphachai Chearavanont, True's President and CEO, was presented with the "2015 Frost & Sullivan Asia Pacific Telecom CEO of the Year" award in Singapore for his leadership and achievements in developing the telecommunications industry in the Asia Pacific region. In the same month, Chearavanont was elected president of The Telecommunications Association of Thailand.

On November 22, 2021, Telenor and Charoen Pokphand Group, officially announced they have agreed to explore a USD 8.6 billion merger plan between Thailand’s second and third largest telecom operators (by subscribers), True Corporation (TRUE) and Total Access Communication (DTAC) – The proposed merger is subject to regulatory approvals. The merger is expected to be completed by late-September 2022. The merger was "acknowledged" by the regulator NBTC at a meeting on October 20, 2022. It is rumoured that the company will be named True-D and will be listed on the Stock Exchange of Thailand on 1 February 2023.

Subsidiaries

True Corporation includes the following subsidiaries:
* TrueMobile (Mobile telecommunication)
* TrueOnline (Broadband/fixed line business)
* TrueVisions (Pay TV business)

Alleged government collaboration

Thai activists have charged that True, Thailand's largest ISP, shared dissidents' internet account details to the junta in the aftermath of the 2014 Thai coup d'état. It is impossible to corroborate that True shared dissidents' data with law enforcement, but Thai governments since 2007 have sought to curb online criticism by passing legislation that compel ISPs to deploy online surveillance and censorship technologies. True's privacy policy allows it to share data with law-enforcement authorities.

References

External links

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Members of the Conexus Mobile Alliance
Telecommunications companies established in 1990
Telecommunications companies of Thailand
Mobile phone companies of Thailand
Mobile phone manufacturers
Charoen Pokphand
China Mobile
Companies listed on the Stock Exchange of Thailand
Companies based in Bangkok
Thai brands
Thai companies established in 1990