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...Telenor Denmark is the second-biggest mobile and fixed broadband operator in the country while Telenor Sweden is the third largest in the nation, according to the company....
...He dates Telenor’s general D&I focus to 2015....
...Telenor has been in Asia for a quarter of a century and Brekke talked up the value it had created....
...“Telenor, knowing this, is prudently considering alternatives.”...
...In a statement about the now-approved deal, Telenor said that “the regulatory approval requires that M1 ensures a local majority owner after the closing of the transaction between Telenor and M1”....
...“Telenor Group does accordingly not exert any control on the handling of customer data by Telenor Myanmar.”...
...The deal is the latest in regional telecoms after Telenor and Malaysia’s Axiata in June merged their mobile operations in the south-east Asian country in a $15bn transaction....
...Telenor declined to comment....
...“Telenor [also] failed to engage with relevant stakeholders in relation to the sale of Telenor Myanmar to M1 Group.”...
...Telenor’s efforts to exit Myanmar have been emblematic of the challenges facing foreign businesses....
...Digi and nearly RM300m in cash from Telenor, according to an Axiata exchange filing on Monday....
...The impairment pushed Telenor to a quarterly net loss of Nkr3.9bn, compared with net income of Nkr698m in the first quarter of 2020....
...Telenor first entered Myanmar in 2013 under a transitional government, and Brekke said he was “a bit proud” of the opening up of the country in recent years....
...That offer “was substantially more than what Telenor had valued Edotco at for its transaction,” according to the banker not involved in the proposed Telenor deal....
...DNB is the latest Norwegian state-controlled company to be investigated for potential corruption after previous probes at telecoms group Telenor, fertiliser company Yara and oil major Equinor....
...Shares in Telenor rose 4.5 per cent to NKr177.75 while Axiata’s increased by 2 per cent....
...“It was a surprise, but not a surprise,” he said, noting that Telenor was an obvious buyer....
...Telenor said: “We acknowledge that the board of directors of Telenor and Telenor’s management have received a letter. The board and management welcome feedback from stakeholders....
...Telenor will be divesting from its mobile operations in Hungary, Bulgaria, Montenegro and Serbia. The transaction will also include the technology service provider Telenor Common Operation....
...Pakistan’s Telenor Microfinance Bank (TMB), a subsidiary of Telenor....
...Sigve Brekke, chief executive of Telenor, said: “Telenor Group’s strategy is based on growth, efficiency and simplification....
...Ulrich Rathe, an analyst with Jefferies, said: Telenor delivers visible cost benefits in second quarter, earlier than we would have expected....
...Ulrich Rathe, an analyst with Jefferies, said: “Telenor delivers visible cost benefits in the second quarter, earlier than we would have expected....
...The acquisition will bring an end to Telenor’s operations in India....
...Telenor was down 0.29 per cent at NOK 135.4 in mid-afternoon in Oslo....
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