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

TECH SHOWCASE

Testing Times

Testing Times

Analysis - Amazon's far-reaching ambitions, lack of profits, unnerve investors.  Full Article 

IPO Probe Over

IPO Probe Over

Facebook says SEC's IPO probe ends, extending WhatsApp closing date  Full Article 

Right to be Forgotten

Right to be Forgotten

Europe debates how far to push 'right to be forgotten'  Full Article 

Privacy Concerns

Privacy Concerns

Apple iPhones allow extraction of deep personal data, researcher finds  Full Article 

Media Powerhouse

Media Powerhouse

BSkyB to pay $9 billion to create Sky Europe.  Full Article 

Reuters India Mobile

Reuters India Mobile

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