Ooredoo, the telecommunications operator formerly known as Qatar
Telecom, plans to bid for a licence in Myanmar, the company’s CEO told
Bloomberg.
Nasser Marifih described the south-east Asian nation, which currently
has mobile penetration of about 5 percent, as “one of the last untapped
markets”.
"It’s a very good opportunity in southeast Asia," he told the news
agency. “In terms of financing, we have the capability to do that.”
Investment interest in Myanmar, also known as Burma, has increased in
the wake of 2011 elections which technically resulted in the end of
military rule and led to the lifting of a number of US imposed sanctions
on the country.
Ooredoo’s Marifih also said that the operator had raised about $12bn
in financing to back its bid to acquire a majority stake in Maroc
Telecom.
Ooredoo is competing with the UAE’s Etisalat for the stake, with both company’s having made binding offers last month.
The stake is currently held by French media giant Vivendi, which is said to be looking to offload the holding by October.
Etisalat has reportedly sought $8bn of loans for its bid for Maroc, and is said to have offered a higher price than Ooredoo.
Marifih told Bloomberg that Ooredoo had made a “strong, compelling
offer” for the Maroc stake. “We still believe we have a strong chance to
win this bid,” he added.
source: Arabian Business
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