SINGAPORE (Reuters) -Myanmar’s junta has given the final approval for the sale of Norwegian telecommunications firm Telenor’s operations within the nation to an area firm and Lebanese funding agency, three sources with information of the matter instructed Reuters.
According to a letter of approval despatched on March 15, seen by two of the individuals, the switch of Telenor’s Myanmar unit to its new house owners should occur inside 5 days.
Myanmar authorities and Telenor didn’t instantly reply to phone and emailed requests for remark.
Telenor sought to go away Myanmar after final yr’s army coup. The firm instructed Reuters in September it was promoting its operations to keep away from European Union sanctions after “continued strain” from the junta to activate intercept surveillance expertise.
Its departure has been mired in issue.
Military leaders late final yr rejected its plan to promote its native operations to Lebanon’s M1 Group for $105 million, Reuters reported. Instead, they wished M1 to associate with an area agency, Shwe Byain Phyu.
Reuters reported in February Shwe Byain Phyu will personal 80% of the unit whereas M1 will personal the remainder.
Neither agency responded instantly to requests for remark by Reuters.
Civil rights teams stated the deal may put the information of 18 million individuals inside the junta’s attain.
(Reporting by Fanny Potkin and Poppy McPherson; Editing by Kenneth Maxwell)
