Viettel to ink USD800 million deal with YTP

Vietnamese military-owned telecoms group Viettel has inked a deal with Myanmar operator Yatanarpon Teleport (YTP) which will see the Vietnamese group invest USD800 million to build out the latter’s telecoms infrastructure, including a new mobile network. Reuters cites officials from both companies as saying that the duo have reached an agreement and are awaiting final approval for the deal, the total investment for which will ultimately rise to USD1.8 billion-USD2.0 billion. As previously reported by TeleGeography’s CommsUpdate, YTP was involved in talks with Thailand’s True Corp regarding a similar deal from February this year, but the negotiations stalled in September after the two parties were unable to reach an agreement on certain unspecified conditions.