Telecom Lead Asia: Digicel, Vodafone and China Mobile have finalized partners for their entry into Myanmar telecom market.
Digicel, which submitted its pre-qualification application for telecom license in Myanmar today, has assembled a consortium with George Soros’ Quantum Strategic Partners and the Yoma Strategic Holdings, a local company in Myanmar.
China Mobile and Vodafone, the world’s largest and second largest mobile operators, have joined forces to apply for a license to roll out a network in Myanmar.
Myanmar government is seeking to increase the number of mobile operators from two to four.
“With a comparatively young and highly literate population of around 60 million, a GDP growth rate of 5.5 percent per annum and mobile phone penetration currently below 10 percent – significantly lower than in many other emerging economies – Myanmar will be an important new market for the global mobile industry,” Vodafone said.
Digicel’s consortium partner Quantum Strategic Partners is a strategy fund that invests in capital-intensive start-ups, buyouts, growth equity, and other transactions.
Denis O’Brien, Digicel Group’s founder and Chairman, said: “Digicel has been successful in entering recently liberalized markets and driving teledensity in underserved countries across the globe. With current mobile penetration below 10 percent in Myanmar, we are committed to rolling out a world-class telecommunications network and have submitted a pre-qualification application to the Government of Myanmar.”
