A consortium consisting of\u00a0Vodafone and China Mobile has withdrawn its bid for the hotly-contested\u00a0telecoms licence in South East Asian country of Myanmar.<\/p>\n
The consortium was one of 12 groups, including South African operator MTN,\u00a0shortlisted\u00a0to\u00a0own and operate a nationwide network for an initial term of 15 years.<\/p>\n
The Vodafone-China Mobile consortium was due to submit its final bid to the Myanmar authorities on 3 June.<\/p>\n
The companies said in a joint statement on Friday (31 May):<\/p>\n
“Following the publication of the final licence conditions on 20 May, the Vodafone-China Mobile consortium has reached the decision 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.<\/p>\n
“Vodafone and China Mobile will continue to watch Myanmar\u2019s progress with interest and will give due consideration to any future opportunities that would meet the companies\u2019 investment criteria.”<\/p><\/blockquote>\n
It is believed that up to 90 parties had expressed interest in bidding for a licence in Myanmar\u00a0due to its attractive opportunity by virtue of its population (60 million) and low mobile penetration rate (approximately 5%).<\/p>\n
However,\u00a0the country has again been plagued by anti-Muslim violence this week, which continues to undermine the country’s attempts at stability, and political and economic reform.<\/p>\n
Telcos in the running:<\/b><\/p>\n