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Telenor To Sell Its Mobile Operations In Myanmar To M1 Group For $105 Mln

Telenor Group agreed to sell 100 percent of its mobile operations in Myanmar to M1 Group for a total consideration of $105 million, of which $55 million is a deferred payment over five years.

The transaction corresponds to an implied enterprise value of about $600 million.

Telenor noted that the situation in Myanmar has over the past months become increasingly challenging for the company for people security, regulatory and compliance reasons. It has evaluated all options and believes a sale of the company is the best possible solution in this situation.

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