Telenor quits Myanmar as regime pressures telco operators

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.