(Il Sole 24 Ore Radiocor) - Milano, 22 gen - Norwegian telecoms group Telenor said it has reached an agreement to sell its 24.95% stake in its Thai unit True Corporation for 39 billion crowns to Arise Digital Technology Company Limited, a company owned by Khun Suphachai Chearavanont.

Telenor will sell the stake at 11.70 baht per share. In addition, Arise and Telenor have agreed a mutual put/call option for the sale of the remaining 5.35% two years after closing of the initial sale at the higher of 11.70 baht per share and the market price prior to the term of the option.

The transaction price represents a 36% increase to the closing price for the first trading day of True Corporation after the merger with dtac in March 2023, and a 4% premium to the last three months volume weighted average share price.

The proceeds from the sale of 24.95% stake of the sale in True will be 100.9 billion baht or 32.3 billion crowns at the current exchange rates, and the proceeds from exercising the option after two years will be 21.9 billion baht or 6.9 billion at the current exchange rates.

Telenor will provide further detail on the anticipated use of proceeds in connection with Telenor's fourth quarter 2025 results presentation on February 6.

Telenor will recognise an accounting gain of approximately 14.7 billion baht, at current exchange rates, at the closing of the initial sale, with 1.6 billion related to recycling of historical currency translation differences, previously recognised as other comprehensive income, with no effect on Telenor's equity.

The transaction is subject to customary conditions and is.

expected to close within a few months.

(RADIOCOR) 22-01-26 08:07:06 (0094) 5 NNNN