Myanmar junta backs Telenor unit sale after buyer M1 partners local firm

Telenor's 37th LightHouse follows the mission of digital literacy in Myanmar. Photo: Telenor.

Lebanon’s M1 Group will partner with a Myanmar firm to take over Norwegian telco Telenor’s business in the Southeast Asian country after its military junta sought a local buyer, three sources familiar with the matter told Reuters.

Telenor, one of the biggest foreign investors in Myanmar, said in July it was selling its operations there to M1 Group for $105 million, retreating from a country that has slid into chaos after a military coup in February last year.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter