Local Myanmar telecom firm to raise $1b
Myanmar’s Yatanapon Teleport, one of the two local rivals against the two foreign mobile operators in Myanmar – Norway’s Telenor and Qatar’s Ooredoo who acquired the nationwide telecom licenses in the government tender last June – said it is planning to raise over $1 billion as it switched from a wholly state-owned enterprise to the public company, Eleven Myanmar reported.
Among the list of Yatanapon Teleport’s board of directors are the prominent local businessmen including the owners of local IT firms and Tun Myint Naing, who is the managing director of the country’s largest conglomerate Asia World Company.
State-owned Yatanapon Teleport, along with state-owned enterprise Myanmar Post and Telecommunications, has had monopoly in Myanmar telecom market for decades. It is now prone to compete against the two foreign firms who pledged multi-billion dollar investments in the market.
However, analysts say the two state-owned firms are at a disadvantage both in terms of capital and in terms of technologies to do well in the market.
Myanmar's Yatanapon Teleport, one of the two local rivals against the two foreign mobile operators in Myanmar - Norway’s Telenor and Qatar’s Ooredoo who acquired the nationwide telecom licenses in the government tender last June - said it is planning to raise over $1 billion as it switched from a wholly state-owned enterprise to the public company, Eleven Myanmar reported. Among the list of Yatanapon Teleport’s board of directors are the prominent local businessmen including the owners of local IT firms and Tun Myint Naing, who is the managing director of the country’s largest conglomerate Asia World Company. State-owned Yatanapon...
Myanmar’s Yatanapon Teleport, one of the two local rivals against the two foreign mobile operators in Myanmar – Norway’s Telenor and Qatar’s Ooredoo who acquired the nationwide telecom licenses in the government tender last June – said it is planning to raise over $1 billion as it switched from a wholly state-owned enterprise to the public company, Eleven Myanmar reported.
Among the list of Yatanapon Teleport’s board of directors are the prominent local businessmen including the owners of local IT firms and Tun Myint Naing, who is the managing director of the country’s largest conglomerate Asia World Company.
State-owned Yatanapon Teleport, along with state-owned enterprise Myanmar Post and Telecommunications, has had monopoly in Myanmar telecom market for decades. It is now prone to compete against the two foreign firms who pledged multi-billion dollar investments in the market.
However, analysts say the two state-owned firms are at a disadvantage both in terms of capital and in terms of technologies to do well in the market.
