- Telenor inked merger contracts in Thailand and Malaysia in 2021.
- It has more than 200 million users and $10 billion in annual sales.
- There will now be specialized investment management teams for each market.
The creation of Telenor Asia, a more autonomous regional organization with its headquarters in Singapore, has been announced by Telenor Group.
Telenor Asia will be in charge of managing all business activities in Bangladesh, Malaysia, Pakistan, and Thailand.
“The strengthened team at our Singapore headquarters will add value to our operations and safeguard our interests in the region. This will also help us ensure value creation of our assets, and we will explore structural partnerships or, in the future, a potential IPO,” said Jørgen Rostrup, Head of Telenor Asia.
“The foundation for our continued growth in Asia is how our services help improve people’s lives and empower societies. In a recent survey we conducted of 8,000 people in South and Southeast Asia, a resounding 93 percent said that mobile connectivity improved their quality of life,” he added.
There will now be specialized investment management teams for each market. These teams will act as asset managers and speak on behalf of Telenor in regional boards. Expertise in finance, operations, risk management, governance, people management, and ethical business practices will also be added to the Singaporean team.
Telenor Asia inked merger contracts in Thailand and Malaysia in 2021. The two largest mergers in Southeast Asia are these two. Following the two mergers, Telenor Asia will have a portfolio of top telco companies in three sizable Asian regions, with more than 200 million users and $10 billion in annual sales.
Telenor Asia will take advantage of possibilities in three sectors and realize synergies from the two mergers to reach its goal of $1.2 billion in cash flow by 2025.
In Bangladesh and Pakistan, mobile uptake and data usage are rising. In these two nations, more than 150 million people lack mobile devices, and 50% of the current customer base solely subscribes to phone services.
increasing revenue from business to business (B2B). This industry currently contributes about 5% of Telenor Asia’s revenue, however there is significant room for expansion. While the general telco industry was shrinking during the epidemic, Telenor Asia’s B2B sales increased by 10%.
offering services outside of basic mobile connectivity, such as insurance, security, and gaming items, to increase the value of the subscriber.