Telenor says ‘no deal’ for GrameenPhone

2 Apr 2007

Norwegian telco Telenor has refused to sell part of its 62% stake in Bangladesh’s leading mobile operator GrameenPhone to its minority partner, Grameen Telecom. The domestic firm’s head Muhammad Yunus previously claimed that Telenor had promised to yield management control of GrameenPhone, and earlier last week he told a Norwegian newspaper that Grameen Telecom would pay Telenor USD427 million for a 13% stake in the GSM operator to give it a majority interest. ‘I’m disappointed,’ Yunus told reporters after meeting Telenor’s management in Oslo, where he was attending an economic conference. ‘I was hoping we would discuss the issues I’ve been talking about in the media and find an opening…[but] nothing really has changed,’ he said. Telenor maintains it is under no obligation to relinquish control of GrameenPhone.

Bangladesh, Telenor Group, GrameenPhone,

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