While Telenor Group closed its operations in Myanmar it has announced that it is in the process of mergers with several Thai and Malaysian companies.
The tech giant said in a media release that 2022 is a year of transition for the company and that the planned mergers had impacted the company’s core earnings in the first quarter of the year.
However, at group level Group president and CEO, Sigve Brekke, indicated that the group’s mobile business had performed very well overall, and a news report cited he was “fairly confident” that the group would get regulatory approval in both Malaysia and Thailand and that processes were going to plan.
Telenor is currently in talks with Charoen Pokphand (CP) Group in Thailand on a possible merger between their respective Thai operation Dtac and True Corp. In Malaysia, on the other hand, the report said that Axiata Group and Telenor have agreed to merge their Malaysian operations Celcom and Digi.