Telenor makes further divestment in Asia

Nordic telco exiting Thailand following sale in Pakistan.

Norway-headquartered telecommunications and technology company Telenor Group is leaving the Thai market after 25 years.

Telenor, which owns 30.30% of Thailand-based telecom-tech firm True Corporation, has agreed to sell 24.95% to Arise Digital Technology Company Limited at $0.37 (THB11.70) per share. For the remaining 5.35%, there is a two-year mutual put/call option.

True Corporation was formed in 2023 following the merger of True and dtac (formally known as Total Access Communication). Telenor began investing in the latter in 2000.

The deal with Arise comes hot on the heels of the December 2025 completion of the sale of Telenor Pakistan to Pakistan Telecommunication Company Limited.

Telenor's divestments in Asia are part of its structural simplification and plans to become more Nordic-centric.

Commenting on the development, Schilbred Fasmer said: "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."

The value of the shareholding stands at around $4b (NOK39b).