TRUE Plans to Dispose ฿15bn. of Assets to DIF, Expecting Completion in August

TRUE plans to dispose additional telecommunications infrastructure assets to Digital Telecommunications Infrastructure Fund for approx. THB 15.8 billion.

True Corporation Public Company Limited (TRUE) has informed that its subsidiaries, namely True Move H Universal Communication Company Limited (TUC), Real Move Company Limited (RMV) and True Internet Corporation Company Limited (TICC) will dispose additional telecommunications infrastructure assets to Digital Telecommunications Infrastructure Fund (DIF or the Fund). The total value of consideration will be in the range from approximately THB 14,300 million to THB 15,800 million.

 

The transaction is expected to be executed under the conditions that the Fund has obtained approval from the meeting of the unitholders of the Fund and successfully raised fund for the transaction, which is expected to be completed within August.

The aforementioned assets to be disposed comprise:

1) 788 telecommunication towers

2) Fiber optic cables (FOC) for a length of approximately 107,694 core kilometers of Mobile Access UPC (approximately 1,795 kilometers)

3) FOC for a length of approximately 40,823 core kilometers of FTTx Access BMA (approximately 315 kilometers)

4) FOC for a length of approximately 147,209 core kilometers of FTTx Access UPC (approximately 3,414 kilometers)

 

Moreover, after the disposal of the Additional Telecom Infrastructure Assets, TUC and TICC and any other subsidiaries within the Company’s group will lease certain Additional Telecom Infrastructure Assets from the Fund which comprise:

1) Certain slots on the Telecommunication Towers in which the lease period will expire on September 15, 2033 and the amount of rental throughout the lease period is approximately THB 3,600 million.

2) Approximately 80% of the FOC Mobile Access UPC in which the amount of rental throughout the lease period is approximately THB 4,800 million.

3) Approximately 80% of the FOC FTTx Access BMA in which the amount of rental throughout the lease period is approximately THB 1,900 million.

4) Approximately 80% of the FOC FTTx Access UPC in which the amount of rental throughout the lease period is approximately THB 6,400 million.

The lease period of assets specified in (2) to (4) above will expire on September 15, 2033 which may be extended for another 10 years after the expiry of the first lease period or until the expiry of the obtained license for operating telecommunication business (whichsoever is earlier), upon fulfillment of the prescribed conditions.

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