Telenor says its exit from Myanmar affects its investors views on Asian assets

Sigve Brekke, Telenor’s chief executive, said that Telenor’s exit from Myanmar has affected its investors’ views on the company’s Asian assets.

“Myanmar was quite a significant part of the value in Telenor’s market capitalisation. It affected investors’ views on our Asian assets. This is another reason why we are setting ourselves up differently in Asia. We are better able to handle risks going forward,” he said.

Even though Myanmar “was both profitable and a place where we saw we would make a difference,” the company’s decision was made, based on its principles in order to protect the safety of its workers and customers, Brekke told the Financial Times.

Today, the Norwegian telecom firm is continuing to expand its business in the Asian region.

It recently completed mergers in Thailand and Malaysia as well as exploring all options in Bangladesh and Pakistan.

The Financial Times also reported last month that CK Hutchison, the Hong Kong-listed conglomerate, was in discussions with Telenor about merging their businesses in Denmark and Sweden.


About Kanlayakorn Pengrattana

Kanlayakorn 'Princess' Pengrattana is a freelance writer at ScandAsia.

View all posts by Kanlayakorn Pengrattana

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