OSLO (REUTERS) - Norway's Telenor has signed a 15-year licence agreement to build and operate a mobile phone network in Myanmar, and aims to launch voice and data services there within eight months, the company said on Thursday.

Telenor will pay US$500 million (S$638 million) for the licence and said peak funding costs, defined as the licence fee plus accumulated losses until it reaches operating cash flow break-even, is expected to be around US$1 billion.

The company expects cash break even after three years, it said.