Telenor monetizes its online claifieds investment in Latam strengens ownership in Asia

11/05/2017

In addition, Telenor has entered into an agreement with Singapore Press Holdings to acquire their share in the online classifieds sites in Malaysia, Vietnam and Myanmar for USD 110 million (approx. NOK 0.9 billion).

Following these transactions, Telenor will own 100 % of the leading online classifieds services Mudah (Malaysia), Chotot (Vietnam), OneKyat (Myanmar) and ImSold (Malaysia and Vietnam). Telenor, Schibsted, Naspers and Singapore Press Holdings will remain partners in the online classifieds assets in Thailand and Indonesia.

Telenor entered into agreements with Schibsted and Singapore Press Holdings in 2013 to create joint ventures within online classifieds in Latin America and Asia. In 2015, the partners joined forces with Naspers to combine platforms in several markets, including Brazil. Following this, Telenor's ownership in the online classifieds joint ventures has been 25 % in Brazil, 50 % in Chile, 33.3 % in Malaysia and Vietnam, 18.6 % in Thailand, and 11.3 % in Indonesia.

Today's transactions show that we have been able to create solid value from our online classifieds investments. We have had a good co-operation with our partners since we teamed up in 2013. However, as part of our efforts to simplify Telenor Group's business portfolio and to focus on business development in geographical areas of key importance, we now wish to concentrate our online classifieds initiatives to these fully owned assets in the Asian region, says J rgen C. Arentz Rostrup, Chief Financial Officer in Telenor Group.

The transactions are expected to close by end of June 2017. In Telenor Group's financial reporting for the second quarter 2017, a gain of NOK 3.5 billion will be booked related to the disposals and an impairment of NOK 0.3 billion will be booked relating to the Asian assets. The transactions will give a net positive cash contribution of around NOK 2.5 billion in the second quarter of 2017.

Media Contact:

Atle Lessum,

mobile: (+47) 41 50 56 45,

atle.lessum@telenor.com

Investor Relations Contacts:

Marianne Moe,

mobile: (+47) 91 61 76 31,

marianne.moe@telenor.com

Helge ien,

mobile: (+47) 91 31 92 42,

helge.oien@telenor.com

LINK:	http://www.telenor.com/media/press-releases/2017/telenor-monetizes-its...
	See more stories from telenor

Most recent headlines

05/01/2027

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be demoed at CES 2026

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...

01/06/2026

Dolby Sets the New Standard for Premium Entertainment at CES 2026

January 6 2026, 05:30 (PST) Dolby Sets the New Standard for Premium Entertainment at CES 2026 Throughout the week, Dolby brings to life the latest innovatio...

02/05/2026

Dalet Flex LTS Delivers Smarter Search, Faster Editing, and an AI-Ready Foundation for Modern Media

Dalet, a leading technology and service provider for media-rich organizations, t...

01/05/2026

NBCUniversal's Peacock to Be First Streamer to Integrate Dolby's Full Suite of Premium Picture and Sound Innovations

January 5 2026, 18:30 (PST) NBCUniversal's Peacock to Be First Streamer to ...

01/04/2026

DOLBY AND DOUYIN EMPOWER THE NEXT GENERATON OF CREATORS WITH DOLBY VISION

January 4 2026, 18:00 (PST) DOLBY AND DOUYIN EMPOWER THE NEXT GENERATON OF CREATORS WITH DOLBY VISION Douyin Users Can Now Create And Share Videos With Stun...

18/03/2026

SMPTE Unveils 2026 NAB Show Educational Presentations

SMPTE Unveils 2026 NAB Show Educational Presentations Brie Clayton March 18, 2026 0 Comments SMPTE , the home of media professionals, technologists, a...

18/03/2026

Auditel Ad Campaign Shot on Blackmagic PYXIS 12K

Auditel Ad Campaign Shot on Blackmagic PYXIS 12K Brie Clayton March 18, 2026 0 Comments LED wall virtual production blends 12K open gate acquisition w...

18/03/2026