Telenor to Sell Stake in Thailand's True for $3.9 Billion as It Slims Asian Operations
By Aimee Look
Telenor agreed to sell its stake in Thai telecom technology company True Corporation for 39 billion Norwegian krone ($3.91 billion), as the Norwegian company further trims its Asia portfolio.
Telenor said Thursday it would sell 24.95% of shares in True, at 11.7 Thai baht (37 cents) per share to Arise Digital Technology Company.
Arise and Telenor also agreed to a put-and-call option for a remaining 5.35%, two years after the closing of this initial sale, Telenor said.
"We are confident that the engaged people in True will continue to grow and innovate for its around 60 million customers", Benedicte Schilbred Fasmer, CEO of Telenor said.
The divestment from True comes after the Nordic telecom slimmed down its presence in Asia, selling its Telenor Pakistan business in December.
"The transaction also underpins our goal to evolve into a more Nordic-centric provider of secure connectivity over time," Telenor said Thursday.
Write to Aimee Look at aimee.look@wsj.com
(END) Dow Jones Newswires
January 22, 2026 01:56 ET (06:56 GMT)
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