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Telenor seals Wave Money stake sale



Telenor Group finalised an agreement to sell its majority interest in mobile payments joint venture Wave Money for $53 million to a subsidiary of conglomerate Yoma Strategic, as the Norway-based operator progresses plans to exit Myanmar.


The operator holds a 51 per cent share of Digital Money Myanmar, which operates as Wave Money. Yoma Strategic will lead a consortium of investors financing the acquisition of the stake by Yoma MFS Holdings, Telenor stated. The transaction is subject to standard conditions, including approval from the Myanmar Central Bank.


Read more here: https://www.mobileworldlive.com/money/news-money/telenor-seals-wave-money-stake-sale



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