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| Name | Symbol | Market | Type |
|---|---|---|---|
| Telenor ASA (QX) | USOTC:TELNY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.19 | 1.60% | 12.03 | 11.90 | 12.20 | 12.04 | 11.8907 | 11.98 | 41,168 | 21:00:52 |
From May 2019 to May 2024
By Martin Mou
Singapore's online classifieds marketplace operator Carousell has signed an agreement to merge with 701Search, the classified marketplace unit of Norway's Telenor ASA (TEL.OS).
The cash and equity deal values Carousell at more than $850 million, and Telenor will become the single largest minority shareholder owning 32% of the combined entity, Carousell said in a statement Thursday.
Following the merger, 701Search's regional hub team in Singapore will be fully integrated into Carousell, while the other platforms that 701Search operates will retain their individual names, Carousell said.
701Search owns online marketplaces Mudah in Malaysia, Cho Tot in Vietnam, and OneKyat in Myanmar, it said.
Telenor is a telecommunications company with operations across Scandinavia and Asia.
Write to Martin Mou at martin.mou@wsj.com
(END) Dow Jones Newswires
November 21, 2019 01:30 ET (06:30 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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