In Myanmar, Telenor growth above expectations

Norway-based Telenor’s Myanmar operation has exceeded previous forecasts in the second quarter.
 
In Myanmar, Telenor’s earnings before interest, taxes, depreciation and amortization (commonly known as EDITDA) during the quarter hit 479 million Norwegian crowns (about $59 million) compared to a loss of 83 million crowns in the same period last year, Reuters reported on Wednesday. The 479 million figure was more than double the 200 million predicted.
 
Telenor is one of two foreign telco entrants that rolled out services late last year in a market where sim cards were once prohibitively expensive. It is above Qatar-based Ooredoo in terms of subscriptions, but lags behind state-backed Myanmar Posts and Telecommunications (MPT).
 
Telenor also has a cute sky blue logo, but that’s neither here nor there.
 
Photo / Facebook / Telenor Myanmar