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YTP in talks for Vietnamese partnership

The fourth mobile operator set for Myanmar is close to finalising partnership talks with Vietnam’s military-run Viettel , according to Reuters news agency.

In November the firm had said it planned to partner with an unnamed Myanmar firm with an investment of US$800 million.

Partnering with Yatanarpon Teleport (YTP) is seen as the last way for a foreign mobile operator to enter the market in the near term. Myanmar conducted a high-profile licence race for two foreign operators in 2013, which were ultimately won by Telenor and Ooredoo. Myanmar state-owned operator MPT, the sole incumbent, subsequently partnered with Japan’s KDDI.

YTP does not yet have a mobile network or a licence, but has been tapped as the fourth operator. However, company officials have repeatedly said they would seek a partner, having narrowed down a shortlist of 16 interested foreign firms late last year.

Company officials previously said that YTP would remain a majority Myanmar-owned company and also anticipates transitioning to a public company in the near future, which would allow local people to purchase shares.

Source: MYANMAR TIMES

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