The MTN Group, on the shortlist of 15 bidders to take one of Myanmar’s telecoms licences, is looking to spend up to US$8 billion on acquisitions.
The network giant is eyeing up possibilities in Africa, the Middle East and Southeast Asia, telling Reuters they are looking at spending between US$4 billion and US$8 billion.
Reuters also reported MTN has made it into the last 15 candidates to take one of two licences up for grabs in Myanmar.
HumanIPO reported last week Vodafone, majority shareholder in Kenya’s Safaricom and South Africa’s Vodacom, had joined the race for Myanmar, which has a population of 60 million but a mobile penetration of less than 10 per cent.
Sifiso Dabengwa, MTN’s chief executive, also told Reuters they are interested in acquiring a North African operator and said it would exit its Iranian operations if the US government imposes sanctions.
