Norway's Telenor sells Myanmar operations to M1 Group for $105m

Norway's Telenor sells Myanmar operations to M1 Group for $105m

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

Norwegian telecoms operator Telenor has sold its Myanmar operations to Lebanese investment firm M1 Group for $105 million, Telenor said on Thursday.

“Further deterioration of the situation and recent developments in Myanmar form the basis for the decision to divest the company,” Telenor said in a statement.

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