The Norwegian telecoms company Telenor, one of the biggest carriers in Myanmar, says it has agreed to sell its entire operations in the country to the M1 Group, a Lebanese-based investment firm
ByThe Associated Press
July 8, 2021, 6:15 AM
• 1 min read
BANGKOK — The Norwegian telecoms company Telenor, one of the biggest carriers in Myanmar, said Thursday it has agreed to sell its entire operations in the country to the M1 Group, a Lebanese-based investment firm, for $105 million.
Telenor earlier announced it was writing off the value of the business after a military takeover caused a public backlash and the authorities imposed limits on mobile and internet access.
“Further deterioration of the situation and recent developments in Myanmar form the basis for the decision to divest the company,” Telenor said in a statement.
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