BANGKOK: Lebanon’s M1 Group will partner with a Myanmar firm to take over Norwegian telco Telenor’s business in the Southeast Asian country after its military junta sought a local buyer, three sources familiar with the matter told Reuters.
Telenor, said in July it was selling its operations there to M1 Group for $105 million, retreating from a country that has slid into chaos after a military coup in February last year.
Its exit has been mired in difficulties as the junta piles pressure on telecom and internet companies to install surveillance technology and bars senior executives from leaving the country.
Military leaders late last year rejected the sale solely to M1.
Instead, they privately…
