True IDC denies reports on plan to sell business

An IT company under the Charoen Pokphand group has denied reports about the group's intention to sell the business, saying the company is set to expand both in Thailand and the region.

Theerapun Charoensak, general manager of True Internet Data Center Co Ltd (True IDC), said on Saturday the company, which provides data-centre and cloud services, was determined to operate its business to meet the growing demand for online data storage.

The number of online users has exponentially increased, driving demand for the data centre service. True IDC has seen this opportunity and aims to expand and grow its business throughout Thailand and in the region to tap the demand, he said.

Bloomberg News reported on Friday that the Charoen Pokphand Group was exploring the potential sale of its data centre unit that could fetch around $200 million, citing people with knowledge of the matter.

According to the report, the group is interviewing advisers to help with the potential disposal of True IDC, said the sources, who asked not to be named as the process is private.

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