Ooredoo Myanmar has been sold for 576 million dollars

 

Ooredoo Myanmar has been sold for 576 million dollars

Ooredoo Myanmar, the only remaining domestic international communications company after the coup, has been sold to Singapore's Nine Communications Company for US$576 million.

Qatar's telecommunications company Ooredoo has signed a deal worth a total of $576 million, Reuters reports today (September 8).

Regarding the sale of the Ooredoo Myanmar company with 15 million users, Qatar Even Reuters wrote in July that the Doha-based Ooredoo Company had already notified the Directorate of Communications under the Military Council.

After the coup, the Norwegian telecommunications company Telenor sold its company in Myanmar, as did the international investment giants. The purchase of Telenor Myanmar by M1 Group, owned by a Lebanese billionaire, involved the military-linked Shwe Bayin Phyu Company. At present, U Thein Win Zaw, the owner of Shwe Bayin Phyu, who has worked in joint ventures with the military, owns up to 80 percent of the telecommunications company renamed Atom from Telenor Myanmar.

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