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Nobel Pressure on Telenor

Published tisdag 12 december 2006 kl 11.37
Peace laureate Muhammad Yunus challenges Telenor

There’s pressure on the Norwegian government to intervene, after the winner of the Nobel Peace Prize used his speech to criticise the state-controlled telecommunications group Telenor.

Peace laureate Muhammed Yunus called on Telenor to honor its letter of intent and relinquish control of Grameen Phone, its joint venture with his Grameen Bank. Grameen Phone is now Bangadesh’s largest mobile telephone company, and much more profitable for Telenor than when it made the risky investment ten years ago.              

The Bangladeshi economist says Grameen Phone should be owned by the Bangladeshi poor. Telenor’s lawyers say the letter of intent is not binding, but now the speaker of the Norwegian parliament has entered the fray and said Telenor should comply.

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