True to appeal against penalty

True to appeal against penalty

True Cop stated it will appeal against the Arbitral Tribunal’s ruling demanding it pay THB7.1 billion (US$195.8 million) compensation to state-owned operator National Telecom (NT). 

The tribunal ruled that True must pay NT THB4.1 billion due to a dispute over a joint telecoms concession which accrued an interest penalty of 15% per year to when the claim was launched. 

In a stock exchange filing, True said it disagreed with the ruling and will send a petition to the Central Administrative Court to overturn the decision. 

The case relates to an arbitration claim filed by CAT Telecom in 2019 against dtac which merged with True this year (it now trades as True).

CAT Telecom and TOT merged in 2021 to form NT. 

Merging with dtac made True the largest operator in Thailand according to reports. True Group parent company CP Group and dtac parent firm Telenor Group hold an equal 30.3% share in the operator. 

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