“We have fully impaired Telenor Myanmar with an amount of NOK 6.5 billion ($783 million),” the company said in a statement.
Telenor’s mobile internet network services in the country, where it has operated since 2014, remain restricted following the military seizing political control in a coup on Feb. 1.
“We see an irregular, uncertain, and deeply concerning situation,” Telenor Chief Executive Sigve Brekke said in a statement.
“Due to the worsening of economic and business environment outlook and a deteriorating security and human rights situation, we see limited prospects of improvement going forward,” he said.
Telenor’s overall adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for January-March fell 8% year-on-year to 13 billion Norwegian crowns, while analysts in a poll on average had expected 13.1 billion crowns.