TRUE Bounces Back with 2% Gain, Seeing No Impact from Merging Issues at the Court

The share price of True Corporation Public Company Limited (SET: TRUE) bounced back on Tuesday after a two consecutive plummet, following concerns over the Supreme Administrative Court accepting the request to revoke the National Broadcasting and Telecommunication Commission Committee (NBTC)’s approval for TRUE and DTAC merger.

TRUE rose nearly 2% to trade at THB1.95 per share in the morning session on Tuesday, following a drop of 1.89% and 1.24% in its previous two sessions after the Supreme Administrative Court reversed 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.

TRUE stated that the process of accepting the request was in accordance with the court procedure, while expecting no impact to its business operation as the merger has been completed and believing that the approval made by NBTC was legitimate.