Qatar telecom firm Ooredoo likely leaving Myanmar
Qatar’s telecommunications firm Ooredoo is in talks to sell its Myanmar unit amid the worsening economic and political climate in the country, Reuters cited insiders.
It would be the exit of the country’s last foreign telecom brand after Norway’s Telenor called it quits earlier this year, writing off $782 million.
According to the report, Ooredoo has informed Myanmar’s Posts and Telecommunications Department as the regulator of its intention to sell a unit that was Myanmar’s third-biggest operator with nearly 15 million users in 2020, before the industry was disrupted by February 1, 2021’s military coup.
Among the potential buyers for the company are Myanmar conglomerate Young Investment Group, Singapore-headquartered network infrastructure operator Campana Group and telecom company SkyNet, owned by junta-affiliated conglomerate Shwe Than Lwin, the report said.
Telecom sector under pressure
The telecom sector in Myanmar has faced increased pressure since the military seized power, after previously having been one of Asia’s fastest-growing markets. Mobile data remains shut down in part of the country, after nationwide restrictions on the Internet throughout 2021.
Ooredoo has initially pledged to invest $15 billion in rolling out a telecommunications network across Myanmar when it won a 15-year license in 2013.
Only military-controlled telecom firms left
Telenor sold its Myanmar unit to junta-affiliated firm Shwe Byain Phyu, with a minority stake purchased by Lebanese investment firm M1. The local unit’s name has since been changed to ATOM. The Norwegian firm said it sold the Myanmar company to avoid European Union sanctions after “continued pressure” from the military junta to activate intercept surveillance technology.
Other telecoms service providers in the country are MPT, a large state-backed operator, and Mytel, a joint venture between Myanmar’s army and Viettel, owned by Vietnam’s defense ministry.
Qatar's telecommunications firm Ooredoo is in talks to sell its Myanmar unit amid the worsening economic and political climate in the country, Reuters cited insiders. It would be the exit of the country’s last foreign telecom brand after Norway’s Telenor called it quits earlier this year, writing off $782 million. According to the report, Ooredoo has informed Myanmar’s Posts and Telecommunications Department as the regulator of its intention to sell a unit that was Myanmar's third-biggest operator with nearly 15 million users in 2020, before the industry was disrupted by February 1, 2021's military coup. Among the potential buyers for...
Qatar’s telecommunications firm Ooredoo is in talks to sell its Myanmar unit amid the worsening economic and political climate in the country, Reuters cited insiders.
It would be the exit of the country’s last foreign telecom brand after Norway’s Telenor called it quits earlier this year, writing off $782 million.
According to the report, Ooredoo has informed Myanmar’s Posts and Telecommunications Department as the regulator of its intention to sell a unit that was Myanmar’s third-biggest operator with nearly 15 million users in 2020, before the industry was disrupted by February 1, 2021’s military coup.
Among the potential buyers for the company are Myanmar conglomerate Young Investment Group, Singapore-headquartered network infrastructure operator Campana Group and telecom company SkyNet, owned by junta-affiliated conglomerate Shwe Than Lwin, the report said.
Telecom sector under pressure
The telecom sector in Myanmar has faced increased pressure since the military seized power, after previously having been one of Asia’s fastest-growing markets. Mobile data remains shut down in part of the country, after nationwide restrictions on the Internet throughout 2021.
Ooredoo has initially pledged to invest $15 billion in rolling out a telecommunications network across Myanmar when it won a 15-year license in 2013.
Only military-controlled telecom firms left
Telenor sold its Myanmar unit to junta-affiliated firm Shwe Byain Phyu, with a minority stake purchased by Lebanese investment firm M1. The local unit’s name has since been changed to ATOM. The Norwegian firm said it sold the Myanmar company to avoid European Union sanctions after “continued pressure” from the military junta to activate intercept surveillance technology.
Other telecoms service providers in the country are MPT, a large state-backed operator, and Mytel, a joint venture between Myanmar’s army and Viettel, owned by Vietnam’s defense ministry.
