Another factor the market is focusing on is the management team, particularly Sigve Brekke, who has international telecom management experience and expertise in post-merger integration—helping reduce operational risk and accelerate synergy realisation.
At the same time, the vision of Suphachai Chearavanont—positioning TRUE as a core pillar of a digital ecosystem spanning 5G, data, cloud and digital services—is seen as a long-term strength that expands the company’s growth beyond traditional telecoms.
Analysts also noted that Thai telecom stocks continue to trade at a valuation discount compared with some regional peers. If TRUE can deliver sustained growth in earnings and cash flow, the scope for a re-rating remains open.
Overall, the market views the deal as a signal of confidence in the industry structure and management capability rather than a short-term negative factor, with the next phase of share-price direction expected to hinge primarily on operating results and the ability to generate added value.