Vodafone and China Mobile withdraw from Myanmar licence process

Vodafone Group and China Mobile have pulled out from proceedings to award two telecommunication licences in Myanmar.

Vodafone Group and China Mobile have pulled out from proceedings to award two telecommunication licences in Myanmar.

In a statement Friday, Vodafone said its consortium with China Mobile the proposed deal failed to meet their "strict internal investment criteria".

The Vodafone-China Mobile consortium was among 12 short-listed applicants due to submit their final bid to the Myanmar authorities on June 3rd.

"Vodafone and China Mobile will continue to watch Myanmar's progress with interest and will give due consideration to any future opportunities that would meet the companies' investment criteria," Vodafone said.

Vodafone's shares fell 1.09% to 190.90p at 11:20 Friday.

RD

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Here’s why you really should own at least some bitcoin
Bitcoin

Here’s why you really should own at least some bitcoin

While bitcoin is having a quiet year – at least in relative terms – its potential to become the default cash system for the internet is undiminished, …
16 Sep 2020
Central banks want politicians to take charge – but what will they do?
US Economy

Central banks want politicians to take charge – but what will they do?

The US Federal Reserve has come to the end of the road in terms of what it can do to accelerate any recovery, says John Stepek. It's over to the polit…
17 Sep 2020
IAG's share price is ready for take-off - here's how to play it
Trading

IAG's share price is ready for take-off - here's how to play it

The owner of British Airways has had a turbulent year, but is now worth a punt. Matthew Partridge explains the best way to play it.
8 Sep 2020