Telenor sells its stake in Thailand's True Corporation for $3.9 billion


A man walks next to the logo of the DTAC Public Company Limited and the logo of True Corporation at a department store in Bangkok, Thailand, November 22, 2021. REUTERS/Athit Perawongmetha

OSLO, Jan 22 (Reuters) - Norway's ‌Telenor said on Thursday it had agreed to sell its ‌30.3% stake in Thailand's True Corporation for 39 billion Norwegian ‌crowns ($3.92 billion), the company's second divestment from Asian markets in recent months.

Telenor Group said it signed an agreement with Arise Digital Technology Company, owned by Khun Suphachai ‍Chearavanont, to sell 24.95% in True and ‍agreed to a sale of ‌its remaining 5.35% stake two years after the closing of the ‍initial ​sale.

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