Junta gives final approval for sale of Telenor’s Myanmar unit

SINGAPORE: Myanmar’s junta has given the final approval for the sale of Norwegian telecommunications company Telenor’s operations in the country to a local company and Lebanese investment firm, according to three sources with knowledge of the matter.

According to a letter of approval sent on Mar 15, seen by two of the people, the transfer of Telenor’s Myanmar unit to its new owners must happen within five days.

Myanmar authorities and Telenor did not immediately respond to telephone and emailed requests for comment.

Telenor sought to leave Myanmar after last year’s military coup. The company told Reuters in September it was selling its operations to avoid European Union sanctions after “continued pressure” from…