Ooredoo considers Myanmar exit

01 August 2022

Qatari telecommunications firm Ooredoo is in talks to sell its Myanmar unit, following Norwegian firm Telenor, which made the move earlier this year.

According to Reuters, Ooredoo has informed Myanmar’s Posts and Telecommunications Department of its intention to sell its local operation.

Ooredoo launched its Myanmar business in 2014, but like many foreign investors, it has been hit hard by the political turmoil that has engulfed the country since last February’s coup d’etat. 

Reuters reported three potential buyers for Ooredoo’s Myanmar unit: Myanmar conglomerate Young Investment Group; the Singapore-headquartered network infrastructure operator Campana Group; and the telecoms company SkyNet, which is owned by the local Shwe Than Lwin group of companies.