TPG Buys 50% Stake in Myanmar Distillery Co.

Myanmar Distillery Co. makes brands including Grand Royal Whisky and Hero Whisky, as well as rum, gin and wine coolers that are sold through approximately 1,300 retailers and 21,000 retail stores throughout Myanmar. This is TPG’s first return to the alcohol industry since it sold its 90% stake in Turkey’s raki maker Mey Icki Sanayi […]

Telenor signs agreement with Malaysian towers company

Telenor Myanmar has signed a memorandum of understanding with Malaysia telecoms service provider OCK Group and its local Myanmar partner, King Royal Technologies, the Shah Alam-based company announced last week. The agreement, which is for building and leasing towers, adds another firm to Telenor’s inventory of infrastructure providers. OCK Group subsidiary OCK Yangon – set […]

MIL buys equity stake in Apollo Towers

Apollo Towers raised US$30 million in equity from Myanmar Investments International Limited (MIL) on July 31, six weeks after receiving approval for a $250 million loan from the US government’s development finance arm, Overseas Private Investment Corporation (OPIC). The towers company, which was set up by former CEO of Orange Group Sanjiv Ahuja and US […]

Bad reception Telenor and Ooredoo pick new tower firms

After months of delays due to intense negotiations over pricing and terms, Ooredoo and Telenor have signed a second round of purchase orders for telecommunications towers. But two of the four towers companies originally hired as official vendors have so far been left empty-handed, and two newcomers have been hired instead. Norway’s Telenor has placed […]

Mobile tower firms turn the corner

The second year of building is under way for the tower companies working to extend coverage for Telenor and Ooredoo, moving steel and concrete by truck and buffaloes to thousands of sites around the country. Apollo Towers global project management officer Bill Pollack said the firm has learned a lot in the last year, as […]