Telenor's Fire Sale of Myanmar Unit Includes $100 Million in Funds - Sources

Norway’s Telenor is planning to transfer $100 million held by its troubled Myanmar operations to the unit’s new buyers – an amount roughly equivalent to how much it will be paid over five years, three people with knowledge of the deal’s terms said. The previously undisclosed detail of the controversial sale underscores the urgency of […]

Telenor Investors Scrutinize Myanmar Sale

Several investors in Telenor are seeking assurances from the Norwegian telecoms company that customer data will be protected following the sale of its operations in Myanmar. Myanmar’s military rulers have given the go-ahead for a local company, Shwe Byain Phyu, to own most of Telenor’s business in the Southeast Asian country, under a deal to […]

Lebanese M1 and local partner to proceed with Telenor Myanmar purchase

After waiting at least six months since it proposed to buy Telenor’s Myanmar unit while the government searched for a local buyer, M1 Group will partner with a Myanmar firm, allowing Telenor to leave the country.   Telenor uncovered plans in July to sell its operations in Myanmar to M1 for $105 million. However, it’s not clear whether […]

Telenor to sell its stake in Myanmar mobile payment service

Telenor, the Norwegian telecommunications operator, is planning to sell its 51 percent stake in Wave Money, one of Myanmar’s biggest mobile payment services, to a conglomerate led by Singapore-listed Yoma Strategic Holdings, its main partner in Wave. Nikkei Asia reports that, at $53 million in cash values, the sale of the stake in Wave Money […]

Myanmar’s authorities pull support of M1 Group’s Telenor buyout

Myanmar’s military government is forcing Norwegian provider Telenor to pursue other buyers following blunt corruption allegations against Lebanese-owned investment firm M1 Group, with rumors of suspected relations to Syrian President Bashar Al-Assad. M1 Group is a Lebanese conglomerate that owns, manages, and oversees investments and subsidiaries in various sectors such as telecommunications, real estate, aviation, […]