Local Myanmar telecom firm to raise $1b

Yatanapon TeleportMyanmar’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.



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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...

Yatanapon TeleportMyanmar’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.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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