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

OSLO: Norway’s Telenor said on ⁠Thursday it had agreed to sell its stake in Thailand’s True Corporation for a ‌total ‌value of about 39 billion Norwegian crowns ($3.92 billion).

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.

True is one ‌of Thailand’s biggest telecom operators with around 60 million customers.