Yoma to buy Telenor’s stake in Wave Money for US$40m instead of US$53m

YOMA Strategic : Z59 -1.04%’s subsidiary will now acquire Telenor’s 51 per cent stake in Digital Money Myanmar (Wave Money) for US$40 million instead of the US$53 million announced earlier this year.

All other material terms from the previous share purchase agreement will remain unchanged, the group said in a bourse filing on Monday (Nov 21).

Both parties entered into an amendment agreement for the deal on Nov 18. They had agreed on the new consideration after taking into account their respective long-term business strategies for Myanmar and the economic outlook.

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