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Myanmar Crisis

Telenor quits Myanmar as regime pressures telco operators

Fire sale highlights dilemmas for companies seeking to operate ethically

Telenor’s disastrous experience in Myanmar is likely to cloud foreign investor perceptions for decades. 

BANGKOK/YANGON -- Norwegian telecoms operator Telenor has announced on Thursday the sale of its mobile operations in Myanmar to M1 Group, a Lebanese company, for $105 million.

The move was foreshadowed by Telenor's decision to write off its Myanmar unit in May, when it booked a loss of 6.5 billion Norwegian crowns ($752 million), amid increasingly severe restrictions on businesses following the military takeover Feb. 1.

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