Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Advertising and Sponsorship
    • Profile & Readership
    • Contact Us
    • Latest News
    • Privacy & Cookies Policies
    • Terms of Use
    • Advertising Terms
    • Issue 81
    • Issue 80
    • Issue 79
    • Issue 78
    • Issue 77
    • Issue 76
    • Issue 75
    • Issue 74
    • Issue 73
    • Issue 72
    • Issue 71
    • Issue 70
    • View All
    • About the Awards
    • Awards Timetable
    • Awards Winners
    • Submit Nominations
    • Testimonials
    • Media Room
    • FAQ
    • Asset Management Awards
    • Brand of the Year Awards
    • Business Awards
    • Cash Management Banking Awards
    • Banking Technology Awards
    • CEO Awards
    • Customer Service Awards
    • CSR Awards
    • Deal of the Year Awards
    • Corporate Governance Awards
    • Corporate Banking Awards
    • Digital Transformation Awards
    • Fintech Awards
    • Education & Training Awards
    • ESG & Sustainability Awards
    • ESG Awards
    • Forex Banking Awards
    • Innovation Awards
    • Insurance & Takaful Awards
    • Investment Banking Awards
    • Investor Relations Awards
    • Leadership Awards
    • Islamic Banking Awards
    • Real Estate Awards
    • Project Finance Awards
    • Process & Product Awards
    • Telecommunication Awards
    • HR & Recruitment Awards
    • Trade Finance Awards
    • The Next 100 Global Awards
    • Wealth Management Awards
    • Travel Awards
    • Years of Excellence Awards
    • Publishing Principles
    • Ownership & Funding
    • Corrections Policy
    • Editorial Code of Ethics
    • Diversity & Inclusion Policy
    • Fact Checking Policy
    Original content: Global Banking and Finance Review - https://www.globalbankingandfinance.com

    A global financial intelligence and recognition platform delivering authoritative insights, data-driven analysis, and institutional benchmarking across Banking, Capital Markets, Investment, Technology, and Financial Infrastructure.

    Copyright © 2010-2026 - All Rights Reserved. | Sitemap | Tags

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    1. Home
    2. >Investing
    3. >Norway’s Telenor says Myanmar unit sale plan followed junta’s pressure on surveillance tech
    Investing

    Norway’s Telenor Says Myanmar Unit Sale Plan Followed Junta’s Pressure on Surveillance Tech

    Published by maria gbaf

    Posted on September 16, 2021

    4 min read

    Last updated: February 9, 2026

    Add as preferred source on Google
    This image features Telenor's logo against the backdrop of Myanmar's flag, illustrating the telecom firm's recent decision to sell its Myanmar unit. The article discusses Telenor's response to military pressure for surveillance technology activation, reflecting concerns over human rights and regulatory challenges in Myanmar's telecom sector.
    Telenor's logo with a backdrop of Myanmar's flag, highlighting telecom issues - Global Banking & Finance Review
    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Tags:telecommunicationsHuman Rightssurveillance technologyinvestment

    Telenor's Myanmar Exit Driven by Junta's Surveillance Demands

    By Fanny Potkin

    SINGAPORE (Reuters) -Norwegian telecom firm Telenor is selling its Myanmar operations to avoid European Union sanctions after “continued pressure” from Myanmar’s military junta to activate intercept surveillance technology, the company’s Asia head told Reuters.

    Telenor announced in July it would sell its Myanmar unit to Lebanese investment firm M1 Group for $105 million, prompting an outcry from activists in the country who have been relying on its services for communications.

    A Reuters investigation https://www.reuters.com/world/asia-pacific/how-myanmars-military-moved-telecoms-sector-spy-citizens-2021-05-18/?fbclid=IwAR3aulnAJ4kejAnvf80rWhJHzmaFQxrBs5qKDivQzbL-4TNJfI62siFD6K0 in May found telecom and internet service providers in Myanmar had been secretly ordered in the months before the junta’s Feb. 1 coup to install invasive technology that would allow the army to freely eavesdrop on the communications of citizens.

    “Since the military took over, it’s been clear for us that our presence will require Telenor Myanmar to activate intercept equipment and technology for the use of Myanmar authorities,” Asia head Jørgen Rostrup said in an interview.

    Allowing the activation of the intercept technology would break the 2018 EU arms embargo against the Southeast Asian country, the executive added, stressing the need for legal or regulatory safeguards in Myanmar to protect human rights.

    “Telenor Myanmar has not activated the equipment as of yet and will not do so voluntarily,” he said. He declined to comment on whether the intercept technology had been installed at Telenor’s operations in Myanmar.

    Rostrup’s comments represent the first time Telenor has addressed the impact of the intercept on its strategy since the junta seized power.

    A spokesman for the Myanmar military did not answer calls for comment. Norway’s industry ministry declined to comment, saying the sale of the unit was a decision for Telenor’s board and management to make.

    Many governments allow for what are commonly called ‘lawful intercepts’ to be used by law enforcement agencies to catch criminals. But in most democratic countries and even some authoritarian regimes, the technology is not ordinarily employed without any kind of legal process, cybersecurity experts say.

    Myanmar activists have called for Telenor to halt or delay the sale. But Rostrup said Telenor felt it had no choice but to withdraw from the country as respecting the EU embargo meant it could not ensure the safety of its employees and allowing the intercept to be activated would be “a complete breach of our values and principles”.

    Reuters reported in July that senior executives at major telecommunications firms in Myanmar have been told by the junta that they must seek special authorisation to leave the country. The travel ban was followed by a second order instructing telecom firms to fully activate the intercept.

    Telenor declined to comment on the travel ban.

    Rostrup said Telenor had chosen M1 after finding it had “no direct relationships with authorities or the military in Myanmar”.

    The deal was submitted to Myanmar authorities for regulatory review recently, he said, adding that the process is expected to take 60 days.

    Myanmar rights group told Reuters they believe the telecom is not doing enough.

    “Telenor is trying to skirt its human rights responsibilities,” said Justice for Myanmar spokesperson Yadanar Maung.

    “Telenor must cancel the sale and come up with an exit strategy that does not risk the lives of the many Myanmar people who are struggling against the junta”.

    Prior to the coup, Telenor had been one of the largest foreign investors in the country with its Myanmar operations accounting for 7% of its total earnings last year. It wrote off its $783 million investment in its Myanmar unit in May.

    (Reporting by Fanny Potkin; Additional reporting by Gwladys Fouche in Oslo; Editing by Edwina Gibbs)

    Frequently Asked Questions about Norway’s Telenor says Myanmar unit sale plan followed junta’s pressure on surveillance tech

    1Why is Telenor selling its Myanmar operations?

    Telenor is selling its Myanmar operations to avoid European Union sanctions and due to continued pressure from Myanmar's military junta regarding surveillance technology.

    2Who is acquiring Telenor's Myanmar unit?

    Telenor announced that it would sell its Myanmar unit to Lebanese investment firm M1 Group for $105 million.

    3What are the concerns raised by activists regarding the sale?

    Activists have called for Telenor to halt or delay the sale, arguing that the company is not doing enough to address human rights responsibilities in Myanmar.

    4What is the expected timeline for the sale's regulatory review?

    The deal has been submitted to Myanmar authorities for regulatory review, which is expected to take 60 days.

    5What percentage of Telenor's total earnings came from Myanmar operations?

    Before the coup, Telenor's Myanmar operations accounted for 7% of its total earnings last year.

    More from Investing

    Explore more articles in the Investing category

    Image for Submit Your Entry for the Prestigious Investor Relations Awards 2026
    Submit Your Entry for the Prestigious Investor Relations Awards 2026
    Image for What Is an NRI Demat Account? Why You Need One for Investing
    What Is an Nri Demat Account? Why You Need One for Investing
    Image for Excellence in Innovation – Investment Platform India 2026 Now Open for Nominations
    Excellence in Innovation – Investment Platform India 2026 Now Open for Nominations
    Image for The Playbook of a Well-Prepared Seller
    The Playbook of a Well-Prepared Seller
    Image for TISCO Asset Management Co., Ltd. Honored at the 2026 Global Banking & Finance Review Awards®
    Tisco Asset Management Co., Ltd. Honored at the 2026 Global Banking & Finance Review Awards®
    Image for PT. Sucorinvest Asset Management Secures Dual Honours at the 2026 Global Banking & Finance Review Awards®
    Pt. Sucorinvest Asset Management Secures Dual Honours at the 2026 Global Banking & Finance Review Awards®
    Image for Stanbic IBTC Pension Managers Limited Wins Best Pension Fund Manager Nigeria 2026 by Global Banking & Finance Review®
    Stanbic Ibtc Pension Managers Limited Wins Best Pension Fund Manager Nigeria 2026 by Global Banking & Finance Review®
    Image for Stanbic IBTC Asset Management Limited Named Best Asset Management Company Nigeria 2026 by Global Banking & Finance Review®
    Stanbic Ibtc Asset Management Limited Named Best Asset Management Company Nigeria 2026 by Global Banking & Finance Review®
    Image for BT Asset Management Wins Best Asset Management Company Romania 2026 by Global Banking & Finance Review®
    Bt Asset Management Wins Best Asset Management Company Romania 2026 by Global Banking & Finance Review®
    Image for Latin Securities Secures Dual Honors at the 2026 Global Banking & Finance Review Awards®
    Latin Securities Secures Dual Honors at the 2026 Global Banking & Finance Review Awards®
    Image for Krungsri Asset Management Company Limited Honored at the 2026 Global Banking & Finance Review Awards®
    Krungsri Asset Management Company Limited Honored at the 2026 Global Banking & Finance Review Awards®
    Image for KBC Asset Management Honored at the 2026 Global Banking & Finance Review Awards®
    Kbc Asset Management Honored at the 2026 Global Banking & Finance Review Awards®
    View All Investing Posts
    Previous Investing PostFrance’s Antin Infrastructure Sets IPO Price Range at 20-24 Euros
    Next Investing PostInvestor Group Sets Tough Climate Blueprint for Big Oil