From Breakingviews: Writing down its $783 million investment in Myanmar may be one of Telenor’s easier decisions after February’s military coup, writes edwardcropley
easier decisions after February’s military coup. Now the $25 billion Norwegian telecommunications operator must work out what to do with its business in the southeast Asian country.
In the first three months of last year, Telenor’s Myanmar operations generated $130 million of EBITDA, roughly 8% of the parent company’s total. That figure fell by nearly a third this year following political turmoil, including the military junta turning off mobile data services last month. Chief Executive Sigve Brekke is thus unlikely to find a buyer. But keeping his head down also carries risks.
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