Publishing date: May 06, 2021 • 3 hours ago • 6 minute read •
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OSLO Since Myanmar’s military ordered telecoms operators to shut their networks in an effort to end protests against its February coup, Telenor’s business there has been in limbo.
As one of the few Western companies to bet on the South East Asian country after it emerged from military dictatorship a decade ago, the return to army rule led to a $783 million write-off this week for Norway’s Telenor.
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Military coup puts Telenor s future in Myanmar on the line
By Victoria Klesty, Gwladys Fouche and John Geddie
Reuters
OSLO (Reuters) - Since Myanmar s military ordered telecoms operators to shut their networks in an effort to end protests against its February coup, Telenor s business there has been in limbo.
As one of the few Western companies to bet on the South East Asian country after it emerged from military dictatorship a decade ago, the return to army rule led to a $783 million write-off this week for Norway s Telenor.
The Norwegian state-controlled firm, one of the biggest foreign investors in Myanmar, must now decide whether to ride out the turmoil, or withdraw from a market which last year contributed 7% of its earnings.
Norwegian state telco Telenor faces an ethical conundrum in coup-hit Myanmar
Photo: Harikrishna Katragadda/ Mint
May 7, 2021
Since Myanmar’s military ordered telecoms operators to shut their networks in an effort to end protests against its February coup, Telenor’s business there has been in limbo.
As one of the few Western companies to bet on the Southeast Asian country after it emerged from military dictatorship a decade ago, the return to army rule led to a $783 million write-off this week for Norway’s Telenor.
The Norwegian state-controlled firm, one of the biggest foreign investors in Myanmar, must now decide whether to ride out the turmoil, or withdraw from a market, which last year contributed 7% of its earnings.
Telecoms firm won licence to operate in Myanmar in 2013 Faces pressure over military orders, licence payments Says will stay as long it contributes positively GRAPHIC: https://tmsnrt.rs/3eQs19G
By Victoria Klesty, Gwladys Fouche and John Geddie
OSLO, May 7 (Reuters) - Since Myanmar s military ordered telecoms operators to shut their networks in an effort to end protests against its February coup, Telenor s business there has been in limbo.
As one of the few Western companies to bet on the South East Asian country after it emerged from military dictatorship a decade ago, the return to army rule led to a $783 million write-off this week for Norway s Telenor.