TELNY Telenor ASA (QX)

By Dominic Chopping

Norwegian telecom provider Telenor ASA said Friday that it is mulling its options in Myanmar.

In conjunction with its first-quarter results earlier this year, the company said it had booked a 6.5 billion-Norwegian kroner ($753.7 million) charge from fully impairing the value of its Myanmar business following a military coup in the country.

At the time, Telenor said the country was facing a worsening economic and business environment outlook and a deteriorating security and human rights situation, and although its operations continued, its future presence would depend on developments and the ability to contribute positively to the people of Myanmar.

"Due to the continued situation, Telenor Group is in the process of evaluating various options with regards to its presence in the country," the company said.

"The evaluations are ongoing," it said.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

July 02, 2021 03:29 ET (07:29 GMT)

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