Nikkei Asia reported Telenor Group efforts to sell its Myanmar operations faced a major setback due to opposition from the nation’s government relating to the business dealings of the proposed buyer.
The news outlet stated Myanmar’s government has concerns about suitor M1 Group’s connections with the Syrian government and allegations of corruption, and pressured Telenor to find another buyer.
Myanmar’s Ministry of Transport and Communication and Investment Commission must each approve the deal.
Telenor agreed the sale for $105 million in July after declaring it was impossible to conduct normal business in the country. It previously booked an NOK6.5 billion ($747.1 million) impairment on the unit.
Operators were ordered to block internet access in March.
Separately, Telenor and rival Ooredoo Myanmar hit out at vandalism of mobile infrastructure in the nation, asserting in a joint statement the acts appeared to be coordinated.
In an individual statement, Telenor expressed regret over “the impact that these incidents may have caused our valued customers”.Subscribe to our daily newsletter Back