In a previous ScandAsia article, Telenor is said to be strengthening its office in Singapore to support a merger process in Thailand and Malaysia and further expand its operations in Bangladesh and Pakistan. A process that now seems to be taking shape.
As part of a capital market day, Norwegian Telenor presented future changes to its internal infrastructure. The company establishes a separate unit in Asia – “Telenor Asia” – focusing on strengthening its business and position in Asia and “building large and profitable businesses as well as more effective risk management “.
Telenor Asia will consist of the four countries in which Telenor already has a presence – Bangladesh, Pakistan, Thailand and Malaysia.
Norwegian news outlet E24 reports that “the positive effects of the merger in Malaysia and Thailand, which has already been launched” is one of the company’s main priorities and the earning potential is between 20 and 25 million. until 2025, provided the merger is completed by next year. In a stock announcement on the company’s homepage, it was stated that the creation of the new unit could reinforce the need for structural partnerships or an IPO.
Telenor posted significantly weaker results in the second quarter and further reported low single-digit growth in services revenue at 2021 levels, which pushed the share price lower. This left the company with a market value of NOK 145 billion, almost 40% lower than five years ago.
Source: https://e24.no/boers-og-finans/i/Q7mzoW/telenor-setter-opp-eget-asia-selskap-kan-bli-aktuelt-med-boersnoting?referer=https%3A%2F% 2Fwww.aftenposten.no