Telenor sells ownership in True Corporation [Yahoo! Finance]
TELENOR ASA S/ADR (TELNY)
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Source: Yahoo! Finance
Telenor Group has signed an agreement with Arise Digital Technology Company Limited, a company owned by Khun Suphachai Chearavanont, to sell 24.95 percent of the shares in True at THB 11.70 per share. In addition, Arise and Telenor have agreed a mutual put/call option for the sale of the remaining 5.35 percent two years after closing of the initial sale at the higher of THB 11.70 per share and the market price prior to the term of the option. “We are pleased to have reached an agreement with Arise about the sale of our stake in True and I would also like to extend a special thanks to True's employees and customers. We are confident that the engaged people in True will continue to grow and innovate for its around 60 million customers”, says Benedicte Schilbred Fasmer, CEO of Telenor. Ms Schilbred Fasmer also expresses gratitude to Khun Suphachai Chearavanont for the constructive discussions, which facilitated a mutually beneficial transaction. “We are committed to sustaining our
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