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More Than 400 Myanmar Civil Groups Say Telenor Sale Breaks OECD Rules
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Myanmar Shadow Government Forms COVID-19 Task Force
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Norway s Telenor exits Myanmar, sells stake to military-linked firm
Norwegian telecom behemoth Telenor has sold off its Myanmar operations to the Lebanese investment firm M1 Group, a firm now on the Burma Campaign UKs ‘Dirty List’ in 2019 for business ties with the country’s brutal military.
| 10 July 2021 4:38 AM GMT
KOLKATA: Norwegian telecom behemoth Telenor has sold off its Myanmar operations to the Lebanese investment firm M1 Group, a firm now on the Burma Campaign UKs Dirty List in 2019 for business ties with the country s brutal military.
Late on Thursday, Telenor announced that it has sold its mobile operations in Myanmar to M1 group for $105 million.
Norway’s Telenor quits Myanmar over military coup
July 9, 2021
Oslo: Norwegian telecoms group Telenor said on Thursday it is selling its subsidiary in Myanmar, where it is one of the major operators, as a result of the military coup there.
While the agreement to sell Telenor Myanmar to M1 Group for $105 million will ensure continued operations of its fixed and wireless networks, analysts expressed concern it might not bode well for freedom to use social networks. The situation in Myanmar has over the past months become increasingly challenging for Telenor for people security, regulatory and compliance reasons, Telenor chief executive Sigve Brekke was quoted as saying in a statement announcing the divestment.