Qatari telecommunications firm Ooredoo is reportedly engaged in active conversations to sell its business units in Myanmar, in what would mark the exit of the country’s last foreign telecoms operator, according to Reuters.
Two people familiar with the matter told Reuters that the Doha-based company had informed Myanmar’s Posts and Telecommunications Department (PTD), the country’s regulator, of its intention to sell a unit that was Myanmar’s third-biggest operator with nearly 15 million users in 2020, before February 2021’s military coup disrupted the industry.
Mobile data remains difficult to access in parts of Myanmar after restrictions on internet usage last year.
The main potential buyers for the company include Myanmar conglomerate Young Investment Group, Singapore-headquartered network infrastructure operator Campana Group, and telecoms company SkyNet, one person with direct knowledge of the matter told Reuters. Skynet is owned by the Myanmar group Shwe Than Lwin.
The people said talks with the three suitors have not yet reached the final stages.
Ooredoo had 9 million customers in 2022, according to its earnings, down from 15 million in 2020, for which it reported revenue of about $330 million.
