Telenor ASA — M&A Activity 2020

Jun 24, 2020

Telenor Group divests shares in Wave Money

Telenor Group divests shares in Wave Money

Telenor Group will divest its 34.2% stake in Digital Money Myanmar Limited (“Wave Money”) to Yoma Strategic Holdings Ltd. Wave Money was launched together with First Myanmar Investment Co. Ltd and Yoma Bank in November 2016.

As the leading e-wallet in Myanmar, Wave Money will remain an important digital partner for Telenor Myanmar and the strong co-operation between the two companies will continue.

Telenor Group will receive USD 76.5 million from the divestment.

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