This week the Norwegian telco group Telenor announced a drop of value in their True Corp investment. A 8.04 billion Norwegian kroner impairment has been announced. In accounting, impairment is a permanent reduction in the value of a company asset.
The True Corp investment is part of a merging that was completed last year by Telenor between Dtac and True owned by the Charoen Pokphand Group (CP).
The Value of the shares in the company fell from 8.15 baht in the beginning of 2023 to 5.05 baht at the end of the year. This is why Telenor has to recognize the impairment.
However Telenor shares that they remain positive on its investment in the Thai True Corp investment.
Source: www.totaltele.com
