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With the sale of its stake in True, Telenor is left with simply two cell companies in Asia
This week, Norwegian telco large Telenor has introduced the sale of its 30.3% stake in Thailand’s True Company for NOK 39 billion ($3.9 billion).
The deal will see Telenor instantly offload a 24.95% stake to Come up Digital Expertise, a holding firm owned by Thai billionaire Khun Suphachai Chearavanont.
The remaining 5.35% stake is to be bought in two years’ time by way of a mutual put/name choice, permitting Telenor to promote the shares on the unique deal worth or the prevailing market worth, whichever is bigger.
Telenor gained its stake in True by way of the merger of their native cell operator DTAC (Complete Entry Communications) was merged with True Company in 2023.
Since then, Telenor has confronted vital headwinds in key Asian markets, usually resulting in fast divestments at appreciable loss.
In 2022, the corporate wrote off its enterprise in Myanmar following coup. One 12 months later, fast forex devaluation in Pakistan ravaged Telenor’s, resulting in its sale.
Now, with the sale of their stake in True, Telenor has simply two main telco companies in Asia: Grameenphone, the most important firm in Bangladesh, by which Telenor holds a majority stake (55.8%); and CelcomDigi in Malaysia, by which it holds a 33.1% stake.
Outdoors of Asia, Telenor operates main operators in Norway, Sweden, Denmark, and Finland.
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