Telenor Group CEO Sigve Brekke reportedly told Bloomberg the operator expected to make a decision on a potential divestment of its Pakistan business by the end of 2023, with the unit currently under strategic review.
In an interview, the executive indicated there were several options on the table following discussions with a number of parties.
The operator group launched a review of Telenor Pakistan in 2022 to assess options in what it described as a “challenging business environment” in its annual report for the year.
It previously booked a NOK2.5 billion ($223.7 million) impairment charge on the unit, blaming a deteriorating macro-economic situation.
Since then, the fate of the Telenor Pakistan has been the subject of regular media speculation.
A sale or merger of the unit would mark another change in the make-up of Telenor’s units in Asia, having already conducted separate deals in relation to its businesses in Malaysia and Thailand.
Bloomberg‘s interview with Brekke came hours after the release of Telenor’s Q3 results where the company noted mobile revenue growth in Pakistan, alongside Bangladesh, in the overview of its Asia operations.