[ad_1]
Telenor Myanmar Restricted has modified its title to Atom Myanmar Restricted ranging from 30 Could 2022, in response to the corporate’s announcement.
“The change of the corporate title is to mirror the post-transaction scenario,” the corporate stated, “with this variation, ATOM MYANMAR LIMITED will sustain the power of our capabilities within the large market and supply higher communications providers and extra enterprise alternatives for entities and people. Aside from the title change, there shall be no impact on the vary of providers and merchandise.”
In July 2021, Telenor Group offered one hundred pc of its cellular operations in Myanmar to the Lebanon-based M1 Group for a complete consideration of USD 105 million, of which USD 55 million is a deferred cost over 5 years. The transaction corresponds to an implied enterprise worth of roughly USD 600 million.
For the Myanmar market, M1 Group is partnering with the Shwe Byain Phyu (SBP) Group, by way of Investcom PTE, which is the brand new entity that may take over possession.
At the moment, the telecom sector in Myanmar, who noticed fast progress till 1 February 2021, is battling low web traffict as information charges have been doubled. Out of the 4 telecoms in Myanmar, MyTel confronted large challenges as armed revolution teams have destroyed many telecom towers owned by MyTel.
[ad_2]
Source link
