Thai Billionaire Dhanin’s Son Buys Telenor’s Stake In Mobile Carrier True For $3.9 Billion |
Arise Digital Technology Co.—controlled by Supachai Chearavanont, youngest son of Thai billionaire Dhanin Chearavanont—has agreed to buy Norwegian telecommunication firm Telenor Group’s 24.95% stake in mobile carrier True Corp. for 39 billion kroner ($3.9 billion).
Under the deal, Arise will buy the True shares at 11.70 baht ($0.37) each, about 5.6% discount from the closing price on Wednesday. True shares tumbled as much as 16% in Bangkok trading today. Telenor signed a put and call agreement, giving Arise an option to purchase its remaining........