Cellco True Move has filed a complaint with the Crime Suppression Division against its rival Total Access Communication (DTAC) for allegedly breaching foreign investment laws in the country.
The company argues that DTAC is “a foreign by law since its…
Cellco True Move has filed a complaint with the Crime Suppression Division against its rival Total Access Communication (DTAC) for allegedly breaching foreign investment laws in the country.
The company argues that DTAC is “a foreign by law since its shareholding structure comprises only 28.65% Thai ownership and the remaining 71.35%is owned by foreigners.”
According to True, Norwegian telco Telenor reportedly owns about 66.5% of DTAC and not 49% as claimed by DTAC.
True claims that under Thai regulations, foreign entities cannot hold more than 49% of Thai telcos when their assets concern national security.
But in an email to TelecomFinance, Telenor said: “Telenor Group’s ownership of DTAC is in compliance with the laws and regulations of Thailand. Dtac is a listed company, the ownership structure is publicly available and registered with the Thai Ministry of Commerce.
“Telenor Group understands that the report on “Foreign shareholding and foreign control in telecommunication business” by the Telecommunications Committee of the House of Representatives, shared with media is still a draft that needs further approval and discussion by the Parliament and other parties involved.”
