By Dominic ChoppingTelenor will book a non-cash impairment of 8.04 billion Norwegian kroner ($760.3 million) in the fourth quarter of 2023 related to its investment in True Corp. The new merged True Corp. is listed in Thailand with Telenor holding a 30.2% stake, of which 26.3% is directly owned. Based on this, Telenor said it considers it necessary to recognise the impairment, aligning the carrying amount with the market value of its stake. "This mark-to-market alignment has no cash implication and does not reflect any changes to Telenor's view on the outlook and ownership of True," Telenor said. "The Dtac-True Corporation transaction remains positive for Telenor and True Corporation remains a key asset."

Source: Wall Street Journal February 05, 2024 09:00 UTC