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Yoma Strategic Holdings Ltd. (Z59.SI)

SES - SES Delayed Price. Currency in SGD
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0.13300.0000 (0.00%)
At close: 05:04PM SGT
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  • Reuters SG

    Telenor to divest stake in Myanmar's Wave Money to Yoma for $53 mln

    Norwegian telecom firm Telenor has agreed to sell its 51% stake in Myanmar's Wave Money, a digital payment service provider, for $53 million to a subsidiary of Yoma Strategic, the companies said in a joint statement on Monday. The subsidiary, Yoma MFS Holdings Pte Ltd, is to be funded by a consortium of investors led by Singapore-listed Yoma Strategic, the companies said. Yoma said the new deal took into account factors including the economic and business developments in Myanmar since the previous announcements and potential synergies for Wave Money to collaborate with the company's other businesses.