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With the sale of its stake in True, Telenor is left with simply two cellular companies in Asia
This week, Norwegian telco big 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 Know-how, a holding firm owned by Thai billionaire Khun Suphachai Chearavanont.
The remaining 5.35% stake is to be offered in two years’ time by way of a mutual put/name choice, permitting Telenor to promote the shares on the unique deal value or the prevailing market value, whichever is larger.
Telenor gained its stake in True by way of the merger of their native cellular operator DTAC (Complete Entry Communications) was merged with True Company in 2023.
Since then, Telenor has confronted vital headwinds in key Asian markets, typically resulting in speedy divestments at appreciable loss.
In 2022, the corporate wrote off its enterprise in Myanmar following coup. One yr later, speedy foreign money 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 biggest 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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