Telecom giant Ooredoo has reportedly sold its Myanmar operations to a Singapore based company for US$576,000,000.
The last of the internationally based telcos in Myanmar, it was reported by Reuters that Oredoo had finalised the deal with Nine Communications on September 8th.
According to Oredoo’s official statement, as well as reports in local news media, the owner of Nine Communications is U Nyan Win, who has 40 years of experience in the telecommunications field.
The Accounting and Corporate Regulatory Authority of Singapore shows that Nine Communication’s director is a Singaporean called Randhir Ram Chandra, with the company formed in July this year. The same person is represented by RR Chandra Advocates and Solicitors.
U Nyan Win is also reported to have worked at MPT, the government owned telco, and is currently a part of Horizon Telecom International, a local internet service provider.
Ooredoo Myanmar currently has around 15 million users.
Source: Thai Public Broadcasting Service (Thai PBS)