Yoma

Yoma: its telco JV partners, Digicel Group, and billionaire George Soros have promised to invest US$9b in Myanmar’s new mobile-phone network if it is granted a license. The consortium targets to roll out a high-speed, 4th gen mobile phone network across the country by Dec 1, and its wireless service will reach 96% of Myanmar’s population by 2016. The group is one of 12 that made it onto a shortlist to bid for the rights to two licenses that will allow carriers to build and operate a nationwide wireless network in Myanmar for 15 yrs. The govt plans to announce the two winning bids on June 27. The other shortlisted companies or groups are Airtel Consortium; Axiata Group; France Telecom-Orange and Marubeni; KDDI, Sumitomo, Myanmar Information and Communication Technology Development Corp and A1 Construction; Millicom International Cellular; MTN Consortium; Qatar Telecom; Singtel, KBZ and Myanmar Telephone Co; Telenor; and Viettel. Vodafone Group Plc and China Mobile Ltd., the two biggest mobile-phone companies, withdrew their bid on May 31, saying the returns wouldn’t justify the investment required. With just 10 contenders left in the running, and the Yoma consortium’s local insights and commitment to the tender, market watchers are becoming increasing more optimistic about its chances of success. Yoma shares closed up 1.2% yday at $0.855, after it announced the completion of its tourism business acquisitions, reinforcing the group’s conglomerate ambitions.