02 July 2021
The telecom giant has booked massive financial losses in a country marred by a military coup and street protests.
Telenor is one of the largest telecom operators in Myanmar that has seen a flight foreign investment this year. (AP Archive)
Norway's Telenor, a major telecom operator in Myanmar, is weighing its future in the country after booking losses following a military coup and subsequent crackdown.
The company issued a statement on Friday it following reports that it was considering the sale of its unit in the country, Telenor Myanmar.
Telenor was pushed into deep losses in the first quarter after it was forced to write down all of its assets in Myanmar, taking their value from $769 million to zero.