0
Wireless

Telenor agrees to sell Myanmar ops to M1 for USD 105 mln after conditions deteriorate

Thursday 8 July 2021 | 09:47 CET | News
Telenor Group has announced an agreement to sell 100 percent of its mobile operations in Myanmar to M1 Group, following what it called a further deterioration of the situation and recent developments in the country. It said conditions had become challenging in terms of staff safety, and regulatory and compliance considerations. The total sale consideration is USD 105 million, of which USD 55 million is a deferred payment over five years, implying an enterprise value of approximately USD 600 million.

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: Mobile & Wireless
Companies: M1 / Telenor / Telenor Myanmar
Countries: Myanmar
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Myanmar govt bans telecom operator executives from leaving country - report

Published 06 Jul 2021 09:51 CET | Myanmar
Senior foreign executives of major telecom operators in Myanmar have been told by the junta that they must not leave the country ...

Telenor studies options related to its presence in Myanmar

Published 02 Jul 2021 17:49 CET | Myanmar
Telenor Group has announced it is evaluating various options regarding its presence in Myanmar. Back on 4 May, Telenor Group ...

Global Network Initiative calls for return to full mobile internet in Myanmar

Published 24 May 2021 08:44 CET | Myanmar
The Global Network Initiative and the Myanmar Centre For Responsible Business have issued the joint statement to call for a ...

Telenor Myanmar's underlying revenues down 19% in Q1

Published 04 May 2021 17:01 CET | Myanmar
Telenor reported revenues of NOK 1.39 billion from its Myanmar business in Q1, down from NOK 1.85 billion a year earlier. The ...

Myanmar Cyber Security Bill should not be passed as proposed - Telenor

Published 16 Feb 2021 12:20 CET | Myanmar
In response to Myanmar authorities' request for consultation, Telenor Group has raised several issues related to the propose ...

Myanmar government orders mobile operators to shut down data networks

Published 08 Feb 2021 13:10 CET | Myanmar
Telenor Group has announced that the Myanmar Ministry of Transport and Communications (MoTC) has directed all mobile operators to ...

Telenor mobile network down in Myanmar amid military coup

Published 01 Feb 2021 12:42 CET | Myanmar
Telenor Group has released a statement on the current situation in Myanmar. Parts of the mobile network in Myanmar are down, and ...

CVC buys Myanmar's Irrawaddy Green Towers for reported USD 700 million

Published 11 Dec 2020 14:20 CET | Myanmar
Private equity firm CVC Capital has agreed to buy Myanmar telecom tower company Irrawaddy Green Towers for USD 700 million, ...