True pinpoints late 3Q for mass market 3G

28 Mar 2011

Thai cellco True Move plans to launch 3G mobile services ‘to the mass market’ in the late third quarter of this year, its CEO Supachai Chearavanont is quoted by Reuters as saying. It also reportedly remains on track to launch HSPA services this quarter for existing users of the former Hutch CDMA network that it took over in January, which covers the Bangkok area and central provinces. True, which already provides ‘trial’ HSPA-based services in selected areas, aims to install 2,000 3G base stations this year, and has said that a planned rights issue will suffice to cover the THB13 billion (USD430 million) investment needed. The rights issue is being launched by parent group True Corp at a steep discount, with a new share offer price 68% lower than Friday’s closing price of THB6.10 – sending its stock value down to a four-month low.

Thailand, True Move