In a separate statement issued the same day, Kittinut Tikawan, True’s co-president in charge of commercial operations, said the company considered the move carefully before making the decision based on optimal benefit to customers and investors.
He insisted the company would lose no business opportunities by shunning the auction.
True announced in May it would not take part in the bidding, given that its existing 55MHz spectrum bandwidth was enough to maintain its comparative advantage in the long run.
Advanced Info Service and Total Access Communication have yet to declare whether they would participate in the auction.
Bids must be submitted by June 15 and a pre-qualification process will extend from June 16 to July 31. The names of qualified bidders will be announced on July 2.