TRUE Slides 2% after the Reversal of the Court Order Regarding the Merger of TRUE-DTAC

On Monday at 11:19 AM (Bangkok time), the share price of True Corporation Public Company Limited (SET: TRUE) decreased by 1.89% or THB 0.15 to THB 7.80, with a trading value of THB 296.77 million.

Krungsri Capital Securities (KCS) stated that the report about the Supreme Administrative Court reversing the judicial order of the Administrative Court regarding the approval of the lawsuits from five AIS and TRUE customers requesting the revocation of the resolution from the National Broadcasting and Telecommunication Commission Committee for accepting the merger between TRUE and DTAC for consideration was the factor that sent negative sentiment and caused the share price of TRUE to decline, even though the consideration process of the case would take some time.

The analyst gave a short-term recommendation for communication stocks as “Avoid,”  especially ones that were related to the case.