Telenor sells its Thailand stake to Arise Digital for $3.92 billion, exiting after 25 years.

Telenor has agreed to sell 24.95% of its stake in Thailand's True Corporation to Arise Digital Technology, owned by Khun Suphachai Chearavanont, for 39 billion Norwegian crowns ($3.92 billion), with the option to sell the remaining 5.35% two years later. The transaction, valued at 11.70 Thai baht per share, represents a 36% premium to True's post-merger price in March 2023. Telenor is exiting Thailand after a 25-year presence, and the transaction supports the company's strategic shift to a focus on Nordic markets. Telenor anticipates a 14.7 billion crown accounting gain and intends to disclose how the proceeds will be used in February 2026. The sale is subject to regulatory approvals and is expected to close within a few months.