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SingTel, Yoma lose out on Myanmar bids Norway’s Telenor and Qatar’s Ooredoo outbid nine others to win the licences

SingTel, Yoma lose out on Myanmar bids Norway's Telenor and Qatar's Ooredoo outbid nine others to win the licences

By Kenneth Lim

"Moving on: SingTel says it remains 'committed to support Myanmar in its developments'.

SINGAPORE-LISTED companies Singapore Telecommunications (SingTel) and Yoma Strategic Holdings have been shut out of two highly sought mobile licences in Myanmar that the authorities awarded yesterday.

Norway's Telenor and Qatar's Ooredoo beat out nine other bids to take the licences, wire services reported. France's Telecom-Orange, with Japan's Marubeni Corp, was named as a reserve, in case negotiations between Telenor or Ooredoo and the Myanmar authorities fall through.

This is the first time that Myanmar is opening mobile telco licences to foreign players.

SingTel, which had been seen as a frontrunner by market observers, was in a consortium with Myanmar's KBZ Group and Myanmar Telephone Co."

~ Source: Reuters

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