Ooredoo exits Myanmar

08 September 2022

Ooredoo, the last foreign-owned telecommunications provider in Myanmar, has finalised a deal to sell its operation in the military-ruled country to a Singapore-based investor Nine Communications, according to reports. 

The Myanmar unit of Qatar-based Oreedoo will be sold with an enterprise value of US$576m and a total equity consideration.

According to a statement, the owner of Nine Communications is U Nyan Win, a Burmese executive who has 40 years of experience in the telecommunications field.

Win is also reported to have worked at MPT (Myanma Posts and Telecommunications), the state telecom enterprise and is currently associated with Horizon Telecom International, a local internet service.

Telenor of Norway, also the parent of the Thailand-based mobile operator DTAC, withdrew from Myanmar in March this year in a departure plagued with difficulty.