Singapore firms miss out on winning Myanmar's telco licences
THE two Singapore firms in the race for Myanmar's highly coveted telecommunications licences failed to make it across the finish line.
SingTel, Singapore's largest telco, and Yoma Strategic Holdings, a Singapore-listed company focused on Myanmar operations, both lost in the contest for two 15-year licences to operate telecoms services in Myanmar.
Instead, Norway's Telenor and Qatar's Ooredoo, formerly Qatar Telecom, will be the first foreign companies to enter one of the world's last virtually untapped mobile phone markets.
France Telecom's Orange, which tied up with Japan's Marubeni Corporation, was named as a back-up in case either of the winners fails to fulfil the post-selection requirements.