Telenor ASA agreed to sell its stake in Thai telecommunications operator True Corp. to Arise Digital Technology Co. for a total value of 39 billion kroner ($3.9 billion). The Norwegian company is selling a 24.95% holding at 11.7 baht (37 cents) per share, it said in a statement Thursday. Both sides agreed a mutual put/call option for the remaining 5.35% two years after the initial sale closes. The...
Telenor ASA agreed to sell its stake in Thai telecommunications operator True Corp. to Arise Digital Technology Co. for a total value of 39 billion kroner ($3.9 billion). The Norwegian company is selling a 24.95% holding at 11.7 baht (37 cents) per share, it said in a statement Thursday. Both sides agreed a mutual put/call option for the remaining 5.35% two years after the initial sale closes. The price is a nearly 6% discount to True’s Wednesday close of 12.4 baht. True slid as much as 13% Thursday — its biggest loss on record — to 10.8 baht. Telenor has been overhauling its operations to focus on its Nordic business, which accounts for the bulk of its revenue. The company agreed to sell its Pakistani operations in 2023, after merging its Thai operator to free up capital and reduce risk. Arise Digital is a wholly owned subsidiary of Arise Ventures Group, which operates in areas such as data centers, digital infrastructure, cloud computing, artificial intelligence and cyber security. It is owned by True Chairman Suphachai Chearavanont , whose family is one of the wealthiest in Asia. Telenor Chief Executive Officer Benedicte Schilbred Fasmer , who took over at the end of 2024, said in November that she aims to boost the company’s return on capital employed to more than 11% by 2028 from 8.6% currently. The transaction is subject to customary conditions and is expected to close within a few months. Telenor said it will provide further detail on the use of proceeds when it reports fourth-quarter results on Feb. 6.
Scott calls on Davina to help find his long-lost sister in the heart-tugging series. Plus, a Dispatches investigation into Palestine Action. Here’s what to watch this evening 9pm, ITV1 The DNA show never fails to make your eyes leak. Scott was 12 years old when he learned that his mum and dad were actually his grandparents and his older sister was his mum – and now he’s desperate to find his real ...
Scott calls on Davina to help find his long-lost sister in the heart-tugging series. Plus, a Dispatches investigation into Palestine Action. Here’s what to watch this evening 9pm, ITV1 The DNA show never fails to make your eyes leak. Scott was 12 years old when he learned that his mum and dad were actually his grandparents and his older sister was his mum – and now he’s desperate to find his real older sister who was put up for adoption. Davina McCall and Nicky Campbell help with finding her and navigating the emotional rollercoaster that ensues. Hollie Richardson Continue reading...
Air India Ltd. is set to report a record annual loss after last year’s deadly crash and airspace shutdowns wiped out progress toward a turnaround, according to people familiar with the matter. The carrier, which is a joint venture between the Tata Group and Singapore Airlines Ltd. , is on track to post a loss of at least 150 billion rupees ($1.6 billion) for the year ending March 31, said the peop...
Air India Ltd. is set to report a record annual loss after last year’s deadly crash and airspace shutdowns wiped out progress toward a turnaround, according to people familiar with the matter. The carrier, which is a joint venture between the Tata Group and Singapore Airlines Ltd. , is on track to post a loss of at least 150 billion rupees ($1.6 billion) for the year ending March 31, said the people, who asked not to be identified discussing private information. Earnings were further hit by Pakistan’s closure of its airspace for Indian airlines following a military clash with India, forcing carriers to fly longer routes at higher costs to Europe and the US, they added. The reversal is especially stark because Air India had been edging back toward profitability before the June Dreamliner crash — which killed more than 240 people — undid years of progress. The founders had targeted operational break-even this fiscal year, but profitability is now out of reach, the people said. Read More: Deadly Air India Crash Puts Ambitious Turnaround Plans at Risk The losses come on the back of a turbulent year for Indian aviation marked by flier anxiety, flight delays and mass cancellations by a rival carrier that has put a spotlight on the duopolistic market structure. Spokespersons for Air India, Tata Group and Singapore Airlines did not respond to emailed request for comments on the losses. A new five-year plan submitted by management projected profits only in its third year, but it was rejected by the board, which has asked for a more aggressive turnaround push, the people said. Read More: Tata Wins Control of Air India Again With $2.4 Billion Bid Government filings compiled by business intelligence platform Tofler show Air India has lost 322.1 billion rupees over the past three years. The airline sought at least 100 billion rupees in fresh support last year, Bloomberg News reported in October. The mounting losses are now a concern for both owners. Tata Group has begun scouting...
Morgan Rogers says he "can be anything" - while the Aston Villa star is talking about his positional flexibility, rather than boasting about his quality, his confidence is well-placed.
Morgan Rogers says he "can be anything" - while the Aston Villa star is talking about his positional flexibility, rather than boasting about his quality, his confidence is well-placed.
Stalled demand for energy in Europe pushed investors away from renewables, but artificial intelligence could see cash flow back into the sector, while also uplifting fossil fuels. Global electricity generation from renewables is expected to jump by 60% in 2030 , accounting for 45% of total electricity output, per the International Energy Agency. Almost 50% of European power came from renewables in...
Stalled demand for energy in Europe pushed investors away from renewables, but artificial intelligence could see cash flow back into the sector, while also uplifting fossil fuels. Global electricity generation from renewables is expected to jump by 60% in 2030 , accounting for 45% of total electricity output, per the International Energy Agency. Almost 50% of European power came from renewables in 2024, and the region has a strong pipeline of solar and on- and offshore wind waiting to be connected to the grid. "The problem we have now is integrating all of that variable supply into our power markets," Peter Osbaldstone, research director for European power and renewables at Wood Mackenzie, told CNBC. Pressure on integration results in pressure on prices, "which undermines the economics of investments, which makes the whole process of supporting a decarbonized power mix more difficult, more expensive for governments to bear," he said. As AI-driven power demand grows, market watchers are eyeing fossil fuels to beat the energy bottleneck . The IEA revised its 2025-2030 growth forecast for renewables downward by 5% compared to 2024, reflecting the changing sentiment and policy, largely from the U.S. Redeploying fossil fuel energy is a "short‑term crutch" that helps the AI roll-out get going, but "renewable energy is the only way to win in the long term," Agate Freimane, partner at venture capital firm Norrsken, told CNBC's "Europe Early Edition" on Jan. 8. watch now VIDEO 6:54 06:54 Market forces driving renewables forward, says Norrsken VC Europe Early Edition "China and the U.S. have both acknowledged the need for vast energy resources to power an AI future, and this is reflected in the adoption of renewables. Taking the global view — renewable energy prices have dropped by more than 90%, and in 2024, 91% of new renewable projects were cheaper than fossil alternatives," Freimane said in a follow-up email. "This shift triggers a self-reinforcing cycle: cheaper clean po...
A Cuban migrant held in solitary confinement at an immigration detention facility in Texas died after guards held him down, according to an autopsy report released Wednesday that ruled the death a homicide. (Image credit: Joe Raedle)
A Cuban migrant held in solitary confinement at an immigration detention facility in Texas died after guards held him down, according to an autopsy report released Wednesday that ruled the death a homicide. (Image credit: Joe Raedle)