Vodafone and China Mobile back out of Myanmar

The partnership of China Mobile and Vodafone has withdrawn from the competition for one of the two telecoms licences up for grabs in Myanmar, the Business Standard reports. The two companies said in a statement that: ‘The opportunity does not meet the strict internal investment criteria to which both Vodafone and China Mobile adhere.’ The two groups reached their decision following the publication of the final licence conditions on 20 May. Amongst the requirements for successful bidders was the obligation to cover 75% of the nation’s territory with mobile voice networks within five years – a daunting prospect given Myanmar’s limited infrastructure and regular power outages. Nevertheless, the duo added that they ‘will continue to watch Myanmar’s progress with interest and will give due consideration to any future opportunities that would meet the companies’ investment criteria.’