Telenor Group remains trapped in Myanmar for now, despite its July announcement of the $105 million sale of its local business to M1 Group, as sources confirmed the military regime's reluctance to approve the deal, Nikkei Asia reported.

Telenor also faces uncertainty over the future of its 51% stake in Myanmar mobile payments group Wave Money after the collapse of a deal to sell a portion of its Wave holding to China's Ant Group, an affiliate of China's Alibaba Group Holding.