China Mobile weighs limited True stake sale as partnership continues
True says China Mobile has no intention of selling its entire holding, with a possible sale of up to 1% limited to portfolio management as AI work continues.
- China Mobile is considering selling a limited stake of no more than 1% in True Corporation as part of its portfolio management policy for state-owned enterprises.
- The potential sale does not reflect a change in confidence, and China Mobile has confirmed it has no intention of selling its entire holding in True.
- Despite the potential limited sale, the strategic partnership between the two companies continues, with a focus on collaborating in the application of AI for network management and customer services.
True Corporation Public Company Limited (TRUE) has confirmed that China Mobile remains a strategic shareholder committed to long-term investment in the company.
It said China Mobile’s consideration of a sale of no more than 1%, previously disclosed to the Stock Exchange of Thailand, was solely part of its portfolio management in line with the investment policy for Chinese state-owned enterprises.
The potential sale did not reflect any change in China Mobile’s confidence in True or Thailand.
Since China Mobile became a True shareholder, the two companies have continued to work closely on technology and innovation to strengthen capabilities in telecommunications and digital services and support the future growth of the digital economy.
AI collaboration targets network efficiency and customer service
One key area of collaboration between True and China Mobile is the application of artificial intelligence (AI) to network management, or AI for network optimisation, aimed at improving service efficiency, reducing operating costs and enhancing network quality.
The companies are also jointly applying AI to operational processes (AI in Operations), including sales and customer service, to improve operating efficiency and enhance the customer experience.
At the same time, True and China Mobile are jointly developing new business opportunities in AI services for both enterprise (B2B) and consumer (B2C) customers.
The aim is to create new digital services and AI solutions to support the transition towards a digital economy.
Brekke says China Mobile has no plan to sell its entire stake
Sigve Brekke, group chief executive officer of True Corporation Public Company Limited, said he had spoken with senior China Mobile executives and received confirmation that the company had no intention of selling its entire holding in True.
“Over the years that China Mobile has held shares in True, it has made capital gains and continues to receive dividends. China Mobile also has confidence in True’s strategy, its opportunities to create further value and the company’s strong fundamentals.”
Brekke said China Mobile’s consideration of a sale of no more than 1% was solely part of its portfolio management under the policy for Chinese state-owned enterprises and was wholly unrelated to True Corporation or Thailand.
If the sale goes ahead, it will not affect True’s business direction, investment plans or operations.
AI services partnership continues for long-term growth
Brekke added that the partnership between True and China Mobile continues, particularly in developing and applying AI to improve network efficiency, operations and customer service, as well as developing AI services for enterprise and consumer customers.
True also disclosed through the Stock Exchange of Thailand that China Mobile had confirmed it did not intend to sell its entire holding in True.
The consideration of a sale of no more than 1% was solely part of portfolio management in line with the shareholder’s policy and was unrelated to the company’s fundamentals or Thailand’s economic outlook.
True believes its collaboration with China Mobile, one of the world’s major telecommunications operators, will remain a key factor in strengthening competitiveness, driving innovation and creating sustainable long-term growth for the company.
