Myanmar’s planned fourth mobile operator reportedly plans to go public as soon as it gets its licence, according to Myanmar Technologies & Investment Corporation, one of the 11 local companies expected to form a part of it.
Myanmar’s planned fourth mobile operator reportedly plans to go public as soon as it gets its licence, according to Myanmar Technologies & Investment Corporation (MTIC), one of the 11 local companies expected to form a part of it.
“The priority is not only to give to the 11 local companies but also to the public,” Deal Street Asia cited MTIC board member Zaw Min Oo saying.
The local investors, collectively known as Myanmar National Telecom Holding, are expected to own a combined 51% stake in the new operator, while the government and a foreign partner will also hold stakes, the report stated.
In late January, Chit Wai, deputy permanent secretary of the Ministry of Communications and Information Technology (MCIT), told reporters that seven companies had expressed interest in being the foreign partner without naming them.
According to the report, the local investors are in the process of selecting their preferred foreign partner as well as a backup. Min Oo was cited saying that the applicants hail from Southeast Asia, Europe and Africa.
The market is currently home to three players: Norway’s Telenor, Qatari incumbent Ooredoo and MPT, a joint venture between the telecoms ministry and Japanese telco KDDI.
One person familiar with the market predicted that Vietnam’s Viettel, Thailand’s True Move, France’s Orange and Malaysia’s Axiata would all likely apply this time around.
MTIC was not reachable for comment.