After forming an alliance in an attempt to win a mobile licence in Myanmar, international telecom giants Vodafone and China Mobile have announced that they are abandoning the licensing race.
A statement from Vodafone confirmed that the two operators had decided “not to proceed with the process as the opportunity does not meet the strict internal investment criteria to which both Vodafone and China Mobile adhere.”
The firms did not provide any more details about their decision to pull out of the bidding. Having entered into an alliance in April to secure a licence, their apparent u-turn comes shortly after the final terms for the licences were made public on 20 May.
Myanmar’s relatively underdeveloped market indicates massive potential for growth, making it highly desirable for operators to obtain one of the two available licences. There are now eleven shortlisted applications following the withdrawal of the Vodafone-China Mobile alliance.
