Millicom joins race for Myanmar mobile licence

STOCKHOLM Fri Apr 5, 2013 8:32pm IST

A couple uses a mobile phone on the side of a street in Yangon, March 7, 2013. REUTERS/Soe Zeya Tun /Files

A couple uses a mobile phone on the side of a street in Yangon, March 7, 2013.

Credit: Reuters/Soe Zeya Tun /Files

Related Topics

Stocks

   

STOCKHOLM (Reuters) - Swedish-based mobile operator Millicom(MICsdb.ST) said on Friday it had joined bigger rivals including China Mobile (0941.HK) in applying for a licence in Myanmar, hoping to get a share of a largely untapped market.

Millicom has operations in Latin America and Africa, having pulled out of Asia in 2009.

Two 15-year licences being tendered by Myanmar's authorities have attracted wide interest from telecoms firms, which see huge growth opportunities in a country of 60 million where the mobile penetration rate is around 5-10 percent, compared to rates of over 100 percent in many developed markets.

"We are an applicant," a spokesman for Millicom said.

China Mobile has teamed up with Vodafone(VOD.L) and a group backed by George Soros has also entered the race to secure a licence.

Africa's largest mobile phone company, MTN(MTNJ.J), India's top mobile operator Bharti Airtel(BRTI.NS) and Singapore's SingTel (STEL.SI) have expressed an interest.

(Reporting by Simon Johnson; Editing by Tom Pfeiffer)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Reuters Showcase

Sundar Pichai

Sundar Pichai

Google's Pichai to oversee major products and services  Full Article 

Fighting For Workers

Fighting For Workers

Ralph Nader urges Apple to reduce buybacks, improve wages - WSJ.  Full Article 

Cybercrime

Cybercrime

Hacker sentenced to 21 months in U.S. prison for $15 mln scheme.  Full Article 

Printed Instruments

Printed Instruments

3D printed instruments make sweet music in Sweden.  Video 

Tweet Debut

Tweet Debut

Britain's Queen Elizabeth sends her first tweet.  Full Article 

Artificial Intelligence

Artificial Intelligence

Google bolsters artificial intelligence efforts, partners with Oxford.  Full Article 

Future Uncertainty

Future Uncertainty

Ericsson flags North America slowdown.  Full Article 

Microsoft Earnings

Microsoft Earnings

Microsoft sales beat Street hopes, cloud profits up.  Full Article 

Looking To Sell

Looking To Sell

HP seeking buyers for corporate-networking business in China - WSJ.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage