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

Deal Talk

Reuters Showcase

Yahoo Earnings

Yahoo Earnings

Yahoo ekes out Q3 revenue gain despite display ad weakness.  Full Article 

Cyber Attack

Cyber Attack

China-backed hackers may have infiltrated Apple's iCloud - blog.  Full Article 

Shopping Plans

Shopping Plans

Yahoo in talks to buy ad service BrightRoll - TechCrunch.  Full Article 

Data Breach

Data Breach

Staples says investigating possible payment card data breach.  Full Article 

Eavesdropping Agency

Eavesdropping Agency

Outgoing UK spy chief rejects mass surveillance claims.  Full Article 

Tech Deal

Tech Deal

Apple, supplier GT strike deal to unseal info, shutter Arizona plant.  Full Article 

Fat Paycheck

Fat Paycheck

New Microsoft CEO Nadella's pay tops $80 mln with big stock awards.  Full Article 

Reuters India Mobile

Reuters India Mobile

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