Mergers have become the norm in the telco sector recently: Far EasTone and Asia Pacific Telecom in Taiwan in 2022, True and DTAC in Thailand, as well as Celcom and Digi in Malaysia both in 2023. These represent a global shift toward an era of two or three players in each market, especially in Asia.

Increased competition, the pressure for infrastructure investments, and digital transformation are all driving this trend. Mergers promise extra capital, potential cost savings, and the continued growth of digital consumer services.

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