Yoma joins consortium to bid for Myanmar mobile phone license

Real estate and agriculture firm Yoma Strategic Holdings has formed a consortium to bid for one of the two mobile phone licenses expected to be awarded by Myanmar's government later this year.

It said the Digicel Group-led consortium submitted its pre-qualification bid in Naypyidaw yesterday, as the first part of the license process.

Digicel operates mobile networks in 31 markets across the Caribbean, Central and South America, and the South Pacific.

Yoma said it and its affiliate in Myanmar, First Myanmar Investments, joined the consortium through a new joint venture (JV) called YSH Finance.

The final member of the consortium is Quantum Strategic Partners which is a fund backed by billionaire investor George Soros.