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Myanmar Crisis

Norway's Telenor fully writes off Myanmar unit for $782m

Mobile operator sees 'limited prospects of improvement' as security worsens

A Telenor Myanmar shop at a mall in Yangon on May 4: The company is the second-largest mobile provider in the country.

BANGKOK -- Norwegian telecommunications company Telenor on Tuesday said it has fully written off its Myanmar operations, at a charge of 6.5 billion krone ($782 million), citing the severe impact of the military coup.

"Due to the worsening of [the] economic and business environment outlook and a deteriorating security and human rights situation, we see limited prospects of improvement going forward," the company's CEO Sigve Brekke said at a financial results briefing for the first quarter of 2021.

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