Thai telco True Corp’s talks to transform Myanmar-based ISP Yatanarpon Teleport (YTP) into a mobile operator have reportedly been suspended after failing to reach a deal.
YTP is free to negotiate with other operators now that an exclusivity period…
Thai telco True Corp’s talks to transform Myanmar-based ISP Yatanarpon Teleport (YTP) into a mobile operator have reportedly been suspended after failing to reach a deal.
YTP is free to negotiate with other operators now that an exclusivity period between the two has ended, reported Reuters citing True CFO Noppadol Dej-Udom.
He reportedly added that his company still feels its offer is superior and will wait for YTP to return to it.
True revealed it was negotiating with YTP back in February, and has said that the Thai operator’s recent sale of an 18% stake to China Mobile helps give it the expertise to expand in Southeast Asia.
The US$882m stake sale was wrapped up earlier this month when a strategic partnership agreement was signed between the two telcos.
True CEO Suphachai Chearavanont said last week: “The deal is a cornerstone of the company’s history, heralding a new era for True as it transforms into an all-powerful leading convergence telecommunications player in the region.”
Norway’s Telenor and Qatar-based Ooredoo got a head start in Myanmar when they were awarded mobile licences last year in the country’s first competitive 3G auction.
However, Japanese telco KDDI and conglomerate Sumitomo Corp have recently announced plans to partner up with state-owned group Myanmar Posts and Telecommunications (MPT), which had been the country’s sole operator before the auction as well as its telecoms regulator.
MPT also owns a majority stake in YTP.
