Telenor open to GrameenPhone IPO possibility

3 Apr 2007

The CEO of Telenor, Jon Fredrik Baksaas, has expressed a desire to launch an initial public offering (IPO) of shares in the Norwegian telco’s 62%-owned Bangladeshi cellco GrameenPhone, although his statement also reaffirmed a strategy of maintaining majority ownership in Bangladesh’s mobile market leader. Telenor has recently come under pressure from its local partner in GrameenPhone, Grameen Telecom, to give up majority control for the benefit of the country’s poor population. ‘Public listing would bring more Bangladeshi ownership into GrameenPhone,’ Baksaas said, adding that ‘We think it is important that the people of Bangladesh…can become owners of this successful company.’

Bangladesh, Telenor Group, GrameenPhone,

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