September 14, 2018 / 9:42 AM / 2 months ago

Thailand's DTAC shares surge on court order to extend service

BANGKOK, Sept 14 (Reuters) - Shares in Thailand’s Total Access Communications Pcl (DTAC) climbed as much as 7 percent on Friday after a court allowed the third largest mobile operator to continue service in concession set to expire on Sept. 15.

The Administrative Court allowed a 3-month extension for DTAC’s service on its 850-megahertz spectrum until Dec. 15, citing the need to assist subscribers who may not have moved to other networks, the court said in a statement.

Earlier this week, the National Broadcasting Telecommunication Commission (NBTC) voted to end service on the final day of the concession on Sept. 15.

“The NBTC order could be problematic if not remedied because 90,000 users will be affected ... and so will relax the NBTC order until December 15,” Prawit Boonthiam, Administrative Court spokesperson, told Reuters.

DTAC is owned by Norway’s Telenor. (Reporting by Aukkarapon Niyomyat and Chayut Setboonsarng; Editing by Gopakumar Warrier)

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