Telenor ASA announced the sale of its 24.95% stake in True Corporation to Arise Digital Technology for approximately NOK 39 billion, marking the end of a 25-year involvement in Thailand's telecommunications market. The deal, at THB 11.70 per share, includes a mutual option for the remaining 5.35% stake two years later. This transaction represents a 36% increase from True Corporation’s closing price after its 2023 merger, reflecting significant growth in value.

The divestment aligns with Telenor's strategy to focus on becoming a more Nordic-centric provider of secure connectivity. The company had initially invested in Thailand in 2000, evolving its presence into one of the country's leading operators. Telenor's CEO, Benedicte Schilbred Fasmer, noted that the value of their Thai stake has risen from NOK 12 billion in 2021 to its current valuation, underscoring the strategic timing of the sale.

This move follows the recent sale of Telenor Pakistan and is expected to generate an accounting gain of approximately NOK 14.7 billion for Telenor. The transaction is subject to customary conditions and is anticipated to close within a few months. Investors will watch how Telenor deploys the proceeds to bolster its core Nordic operations and digital infrastructure.

Analysts will scrutinize the impact of this deal on Telenor's future strategy and its ability to compete in the rapidly evolving telecommunications sector. The sale signals a shift in Telenor's global portfolio, emphasizing a more localized and secure connectivity approach.