Vodafone and China Mobile have exited the race for one of the two available Myanmar telecommunications licences, boosting the chances of South Africa-based MTN, who formally submitted their bid today (Monday).
HumanIPO reported last month the network giant had launched a high profile media campaign in the country formerly known as Burma, aiming to increase brand awareness and its chances of winning one of licences in the young country.
The deadline for applications was today and MTN remain in the race. In April, MTN was put on a shortlist of 15 bidders.
Vodafone and China Mobile had previously made a joint bid, but the duo have had a change of heart because they no longer believe it would meet their investment criteria.
MTN’s chief executive officer (CEO) Sifiso Dabengwa said in April they were looking to spend between US$4 billion and US$8 billion in acquisitions.
