Telenor to receive payments for sale of Myanmar business over 5 yrs

Telenor will receive payments for the sale of its Myanmar operations over the next five years, the Norwegian telecoms company said on Friday as it announced the completion of the transaction.

Telenor in May 2021 wrote down the value of its Myanmar business by 6.5 billion crowns ($751 million) and later said it would be sold for $105 million to Lebanese investment firm M1 and local firm Shwe Byain Phyu.

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