Friday, 24 March, 2023

Telenor sells stake in Wave Money to subsidiary of Yoma Strategic

<p>Telenor, a Norwegian telecom firm, has decided to sell its 51% stake in Myanmar&#39;s digital payment service provider, Wave Money to a subsidiary of Yoma Strategic for $53M. Yoma MFS Holdings, Yoma Strategic&#39;s subsidiary, will be funded by investors led by Yoma Strategic. The new deal took into account factors such as economic and business development in Myanmar. Wave Money&#39;s valuation is about $104M, as per the sale price.</p>