The ownership shareholding of Yadanapon Teleport Public Company is being changed so that it is in line with a public company and can be granted a communications licence, U Than Tun Aung, director of Myanma Posts and Telecommunications told Mizzima on November 16.
Yadanapon is in the process of change following the moves by the Ministry of Communications and Information Technology to issue communication licences to Myanma Posts and Telecommunications or MPT, Telenor and Ooredoo in early 2014.
“We will issue the licence to Yadanapon Teleport soon. Now, its property is being changed in line with a public company,” said U Than Tun Aung.
He explained that the Ministry of Communications and Information Technology currently holds the majority of shares in Yadanapon Teleport. In transforming it into the public company, the government’s shares must be sold to the public. Moreover, the company must apply for a licence together with an operator company. So the transition is slow.
U Chit Tun Pe, consulting director of a US-based business consulting company, said shares are to be sold to the public, reducing the government’s holding.
He said they need to seek an operating partner and become a public company.
Myanma Posts and Telecommunications plans to issue work licences for internet services to the companies.