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OSLO :Norway’s Telenor on Thursday said it had agreed to sell its Pakistani unit to state group Pakistan Telecommunications Company in a transaction valuing the operation at 5.3 billion Norwegian crowns ($493.5 million).
Telenor Pakistan was launched 18 years ago and has 45 million customers, the company added.
The Norwegian group has for some time restructured its Asian businesses, and had said it hoped to decide on a solution for the Pakistan business by year-end.
The deal is subject to regulatory approvals, and the aim is to close the transaction during 2024, Telenor said in a statement.
($1 = 10.7403 Norwegian crowns)
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