Telenor to sell Pakistan telecoms unit for $490 million
Telenor Pakistan, launched 18 years ago, and has 45 million customers, the company said in a statement.
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Telenor Pakistan, launched 18 years ago, and has 45 million customers, the company said in a statement.
OSLO: Norway's Telenor said on Thursday (Dec 14) it had agreed to sell its Pakistan unit to state group Pakistan Telecommunications in a transaction valuing the unit at 5.3 billion Norwegian crowns (US$490 million). The Norwegian group has been restructuring its Asian businesses, building bigger units in T
Its CEO says they had tried to do a merger but couldn't manage to get that
"We also tried to do a merger in Pakistan but we didn't manage to get that, and when we saw this wasn't happening the second-best alternative was to arrange a sale," Telenor CEO Sigve Brekke told Reuters.
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