True Denies China Mobile Dumping Stock in Bulk Sale
True Corporation denies China Mobile plans to dump its 7.81% stake, saying the shareholder will only conduct modest partial sales as part of routine portfolio management while remaining committed long-term.
True Corporation Public Company Limited (TRUE) has filed a statement with the Thai Securities Exchange addressing media reports that China Mobile International Holdings Limited, a major shareholder holding 7.81% of TRUE, may be planning to divest its entire stake. TRUE confirmed that China Mobile has denied any intention to sell all its holdings. Instead, China Mobile is considering a modest partial sale as part of normal portfolio management, contingent on market conditions and other factors unrelated to TRUE's operations.
China Mobile reaffirmed its commitment to remaining a long-term shareholder, viewing TRUE as a key strategic partner while maintaining confidence in the company's growth potential and positive business prospects. TRUE expects that any small-scale divestment by China Mobile would have no material impact on the company's business direction, management, or operations.
