The company’s 5G transformation efforts with hyperscale partners continues apace. The sale will generate NOK 10.8 billion (US$10 million) in proceeds, and about a third of the proceeds are slated for share buybacks. investment firm KKR and Norwegian pension firm Oslo Pensjonsforsikring. What’s more, Telenor will divest 30% of the newly established company to U.S. 80,778 miles) of cables connecting more than half a million subscribers, the company said. Telenor Fiber AS will manage about 130,000 kilometers (ca. The new business unit will own Telenor’s passive fiber assets in Norway. Last week, Telenor announced that it had created a new subsidiary, Telenor Fiber AS. “Throughout the pandemic, when the overall telco sector was contracting, Telenor Asia’s B2B revenue was up by 10,” said the company. It also wants to grow regional B2B revenue, currently pegged at around 5%. Other efforts include expanding services beyond core mobile connectivity to areas like gaming, security and insurance. “There are more than 150 million people in these two countries without mobile devices and 50 of the current customer base subscribe to voice services only,” said Telenor. The company said its Asia strategy moving forward will be to increase mobile adoption and data usage in Bangladesh and Pakistan, two emerging markets the company sees as drastically underserved. Once completed, the company says these will be the largest and second-largest mergers in Southeast Asia, representing more than 200 million customers and US$10 billion in annual revenue. Telenor signed merger agreements in Malaysia and Thailand in 2021. The team in Singapore will also be strengthened with expertise in finance, operations, risk management, governance, people management and responsible business,” said Telenor in a statement. “These teams will take on an asset manager role and represent Telenor’s interests in local boards. The restructuring provides dedicated investment management teams for each market, the company said. This will also help us ensure value creation of our assets, and we will explore structural partnerships or, in the future, a potential IPO,” said Jørgen Rostrup, head of Telenor Asia. “The strengthened team at our Singapore headquarters will add value to our operations and safeguard our interests in the region. Asia accounted for almost half of the company’s revenue in 2021, where it provides services to more than 162 million subscribers. Telenor already holds a commanding presence in its Asian markets. Telenor described the new business group as “a more independent regional entity” based in Singapore, created to oversee the company’s efforts to expand its market in Bangladesh, Malaysia, Pakistan and Thailand Norwegian telco Telenor Group announced Tuesday the formation of Telenor Asia. The nordic telco eyes Southeast Asia expansion and maybe an IPO
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