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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.

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Categories: Mobile & Wireless
Companies: M1 / Telenor / Telenor Myanmar
Countries: Myanmar
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