Telenor to divest stake in Myanmar’s Wave Money to Yoma for $53m

Photo: Wave Money’s Facebook

Norwegian telecom firm Telenor has agreed to sell its 51% stake in Myanmar’s Wave Money, a digital payment service provider, for $53 million to a subsidiary of Yoma Strategic, the companies said in a joint statement on Monday.

The subsidiary, Yoma MFS Holdings Pte Ltd, is to be funded by a consortium of investors led by Singapore-listed Yoma Strategic, the companies said.

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