Apr 28, 2014

Yatanarpon Teleport looks for foreign partners

The majority state-owned Yatanarpon Teleport is in discussion with four foreign companies to establish a public - private partnership in the telecommunication sector.

Among the companies that have shown interest, True Move from Thailand and Axiata from Malaysia are reported to be favourites.

“We haven’t chosen anyone yet. We are now trying to establish Yatanarpon Teleport as a public company,” said an official from Yatanarpon Teleport.

The joint venture will be 51 percent owned by Yatanarpon Teleport and 49 percent by foreign owned company.

Privatising the majority state-owned Yatanarpon Teleport is facing more delays than expected. Current rules and regulations say that a telecomm company that has already bought shares an already existing telecomm company can only invest 10 percent in another company.

Yatanarpon Teleport currently specialises in mobile services, internet provision, satellite telecommunication as well as research and development. It aims to compete with private mobile operators Oreedoo and Telenor that were awarded their licences earlier this year and plan to begin operations by mid-year.

The state Myanmar Post and Telecommunication (MPT) owns 51 percent of Yatanarpon Teleport and local private sector owns the other 49 percent of shares.

Source: Eleven Weekly Media