Telenor Myanmar sale reported to be back on track - Mobile World Live

Telenor Myanmar sale reported to be back on track

21 JAN 2022

A proposed takeover of Telenor Group’s Myanmar unit by M1 Group was reportedly reignited after the latter met conditions imposed by the government.

Reuters reported Myanmar authorities approved a deal for M1 Group to partner with Shwe Byain Phyu Group, which will take a majority stake.

Shwe Byain Phyu Group chair Thein Win Zaw is a director of Mahar Yoma, one of the companies owning shares in military-owned operator Mytel, Reuters stated.

Telenor agreed to sell the Myanmar unit to M1 Group for $105 million in 2021, but authorities raised concerns, preferring a local buyer.

The Norwegian operator had previously booked a massive write-down on the business following political unrest in the country.

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Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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