India, Jan. 22 -- Telenor ASA (TELNF,TEL.OL, TELNY), a Norwegian state-owned telecommunications company, on Thursday said it has agreed to sell its entire stake in True Corp. (TRUE.BK), exiting Thailand after 25 years, in a transaction valuing the holding at approximately NOK 39 billion.
The transaction is expected to close within a few months.
The company has signed an agreement with Arise Digital Technology Co. Ltd., owned by Khun Suphachai Chearavanont, to sell 24.95 percent of True's shares at THB 11.70 per share.
Arise and Telenor have also agreed to a mutual put/call option for the sale of the remaining 5.35 percent stake two years after completion, at the higher of THB 11.70 per share and the prevailing market price.
The agreed p...