Telenor Group and Yoma Strategic have entered into an agreement to sell Telenor
Group's 51 percent share of Digital Money Myanmar Limited (Wave Money) for USD
53 million (around NOK 470) to Yoma MFS Holdings Pte. Ltd, a subsidiary of Yoma
Strategic. This subsidiary is to be funded by a consortium of investors led by
Yoma Strategic which remains subject to completion and final funding.
 
When the transaction is concluded, Yoma Strategic will become the largest and
controlling shareholder of Wave Money, ensuring that the company continue
operations and further extend its leading role in Myanmar's fintech sector. The
company was launched in November 2016 as a joint venture between Yoma Bank and
Telenor Group.

The agreement between Yoma Strategic and Telenor Group completes the divestment
process announced in June 2020. The transaction is subject to various conditions
in order to be completed, among them regulatory approval from the Myanmar
Central Bank.

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