Telecoms giant Vodafone Group has unveiled an agreement with China Mobile to form a consortium to bid for a mobile telecommunications licence in Myanmar.
The Myanmar government is planning to increase the number of mobile operators from two to four, and Vodafone sees the country as an important new market for the global mobile industry.
The group described the licensing round as an "opportunity to accelerate the pace of Myanmar's social and economic development through mass-market adoption of mobile services".
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The two licences will enable the holder to build, own and operate a mobile network on a nationwide basis over an initial term of 15 years.
In a statement the company said: "This strategic agreement builds on a strong relationship between the two companies dating back to 2000.
"The licensing round is also an opportunity to accelerate the pace of Myanmar's social and economic development through mass-market adoption of mobile services, similar to the mobile-led transformation underway within many other Asian and African countries."
It added that the application is still at a preliminary stage and may not ultimately prove successful.
Vodafone's share price dipped 0.19% to 185.80p by 13:05.
NR
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
