China Mobile Weighs Sale of True Corp Stake, Shares Drop 4.9%
China Mobile is considering selling its minority stake in Thai telecom operator True Corp, valued at about $1.1 billion based on True's current market capitalization of roughly $14.5 billion. The company has engaged an adviser to gauge initial buyer interest, though talks may not lead to a deal. True's shares dropped as much as 4.9% on August 3, the biggest one-day decline in over a month, after the news. China Mobile holds a 7.8% stake, according to True's latest financial report. True's shares have risen 28% in 2026. True's investment department head, Nuolin, said China Mobile had previously expressed a desire to be a long-term shareholder with no intention to sell.
China Mobile is considering selling its minority stake in Thai telecom operator True Corp. The company has worked with an adviser to gauge initial interest from potential buyers in its True stake. Discussions are ongoing and may not result in a deal.
According to True Group's latest financial report, China Mobile holds about a 7.8% stake. Based on True's current market capitalization of about $14.5 billion, the stake is worth about $1.1 billion. True's shares have risen 28% in 2026. On August 3, True's shares fell as much as 4.9% on the Bangkok stock exchange, the biggest single-day decline in more than a month, before paring losses.
Nuolin, head of True's investment department, said China Mobile had expressed its intention to be a long-term shareholder of True and had no intention of selling its stake. True merged with the Thai subsidiary of Norway's Telenor in 2023. Earlier in 2026, Telenor agreed to sell its True stake to Arise Digital Technology Co, a wholly owned subsidiary of Thai conglomerate Charoen Pokphand Group, for a total of $3.9 billion.
True has more than 48 million mobile subscribers and also operates home broadband and cable television businesses.