True Corporation Public Company Limited (SET: TRUE) and Total Access Communication Public Company Limited (SET: DTAC) announced a cancellation of the amalgamation between both companies due to an expired condition of voluntary tender offer.
Citrine Global Company Limited and Citrine Venture SG Pte. Ltd., which are joint venture companies between Charoen Pokphand (CP) Holding, the parent firm of TRUE, and Telenor Asia, the parent firm of DTAC, have submitted the statement declining to make the conditional voluntary tender offer for all shares in TRUE and DTAC due to certain conditions precedent to both companies not having been satisfied within one year from 20 November 2022, during which time the Tender Offerors have expressed their intention to launch the voluntary tender offer. However, TRUE and DTAC stated that they will continue to work together in relation to the Amalgamation.
