Telenor seeks sale of Myanmar operations following coup

Telenor seeks sale of Myanmar operations following coup

Norway’s Telenor Group is considering an attempt to sell its Myanmar unit, reports Reuters.

Telenor wrote off the unit in May this year after it registered an impairment loss of NOK6.5 billion (USD753.9 million), reports CommsUpdate. At the time, Telenor said that the Myanmar military junta’s February coup had resulted in the “worsening of economic and business environment outlook and a deteriorating security and human rights situation.”

For Telenor Myanmar’s operations, the group stated bluntly that it saw “limited prospects of improvement going forward.” This has been borne out by the junta’s actions; the military has repeatedly blocked internet access nationwide, with mobile data services having been unavailable for nearly two months.

Many social media sites and messaging services have been banned, with the junta now considering the creation of a whitelist that would grant access to certain approved sites and services.

TMT Finance reports that Telenor has invited selected Chinese firms to bid on its Myanmar unit under the expectation that the international sanctions imposed on other firms would not apply to them. Additionally, rival operator Ooredoo Myanmar’s Qatar-based parent is reportedly interested in an acquisition.

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