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

OSLO, Jan 22 (Reuters) – 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% two years after ‍the ⁠closing of the initial sale.

($1 = 9.9484 ⁠Norwegian crowns)

(Reporting by Terje ‌Solsvik; Editing by ‌Jamie Freed)