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Telenor signs Myanmar mobile phone licence deal
January 30, 2014 / 6:06 AM / in 4 years

Telenor signs Myanmar mobile phone licence deal

OSLO, Jan 30 (Reuters) - Norway’s Telenor has signed a 15-year licence agreement to build and operate a mobile phone network in Myanmar, and aims to launch voice and data services there within eight months, the company said on Thursday.

Telenor will pay $500 million for the licence and said peak funding costs, defined as the licence fee plus accumulated losses until it reaches operating cash flow break-even, is expected to be around $1 billion.

The company expects cash break even after three years, it said. (Reporting by Terje Solsvik; Editing by Balazs Koranyi)

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