Telenor reviewing its operation in Pakistan as economic situation worsens

Islamabad: Telenor has been reviewing its operation in Pakistan in the wake of worsening macroeconomic situation in the country. However, the company has ruled out any possibility of moving towards a merger or closing down in Pakistan, local media reported.

Owing to writing down the value of its assets in the range of approximately $250 million, Sigve Brekke, President and Chief Executive Officer, Telenor, ASA, said in its statement, “We will definitely look at what is creating shareholder value when we do the review, but I don’t want to comment on content of that review.

“Of course, it is looking at operation, can we run that more efficiently than we already do but we are also looking at any other types of alternatives for us to secure our value in Pakistan,” The News Reported quoting the Telenor CEO.