China Mobile completes 18 percent stake in True

China Mobile has completed 18 percent stake in True Corporation, one of the largest operators in Thailand.

The board of directors of the company is pleased to announce that, in respect of the share subscription agreement entered into between CMI Holdings and True Corporation on 9 June 2014.

All necessary approvals from the government and relevant regulatory authorities in respect of the subscription have been obtained, and other conditions precedent to the completion of the subscription have also been satisfied.

Completion of CMI Holdings’ subscription from True Corporation of 4.429 billion ordinary shares of True Corporation, representing 18 percent of the total issued and outstanding shares of True Corporation has taken place in accordance with the terms of the share subscription agreement.

Immediately following the completion of the subscription, CMI Holdings will become the second largest shareholder of True Corporation. Two designees nominated by CMI Holdings have been appointed as directors of True Corporation upon completion of the subscription.

True offers innovative and high-quality mobile telecommunications services on its nationwide 1800 MHz network to 15 million subscribers throughout Thailand.

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