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Digicel Statement RE. Myanmar Telecommunications Licence

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NAY PYI TAW, Myanmar, June 27, 2013 /PRNewswire/ — The Digicel consortiumis disappointed to have been notified that it has not been successful in securing one of the two nationwide telecommunications licences on offer in Myanmar.

Digicel remains committed to exploring commercial opportunities in Myanmar and will be evaluating these on an ongoing basis.

Mr. Denis O’Brien, Chairman and founder of Digicel Group, speaking on behalf of the consortium — YSH Finance Limited (a joint venture between First Myanmar Investment Co., Ltd and Yoma Strategic Holdings Ltd. ‘FMI/Yoma’), Quantum Strategic Partners Ltd. and Digicel Group Limited, thanked the Union Government of Myanmar for the opportunity to be involved in the bidding process.

He also congratulated the successful applicants and wished them well as they prepare to enter the Myanmar market.

About Digicel

Digicel Group Limited is a leading global telecommunications provider with operations in 31 markets in the Caribbean, Central America and Asia Pacific. After 12 years of operation, total investment to date stands at over US$4.5 billion worldwide. The company is renowned for delivering best value, best service and best network.

Digicel runs a host of community-based initiatives across its markets and has set up Digicel Foundations in Jamaica, Haiti, Papua New Guinea and Trinidad and Tobago which focus on educational, cultural and social development programmes.

Digicel is the lead sponsor of Caribbean, Central American and Pacific sports teams and individuals including the world’s fastest man, Usain Bolt and Special Olympics teams throughout these regions. Digicel also sponsors the West Indies cricket team.

Visit www.digicelgroup.com for more information.

About YSH Finance Limited

YSH Finance Ltd. is part of the enlarged SPA Myanmar Group, one of the leading business groups in Myanmar, with companies active in key business sectors, including financial services, real estate development, automotive distribution, agriculture, manufacturing, services, retail and travel and tourism.

YSH Finance Ltd. is owned by First Myanmar Investment Co., Ltd. and Yoma Strategic Holdings Ltd., two public companies within the enlarged SPA Myanmar Group.

In 1992, Mr. Pun set up First Myanmar Investment Co., Ltd. (FMI), a public company in Myanmar with over 4,500 shareholders, all of whom are Myanmar nationals. Employing approximately 5,000 people within the group, FMI is active in a broad range of activities in Myanmar.

In 2006, Mr. Pun successfully acquired Yoma Strategic Holdings Ltd. that was listed on the mainboard of the Singapore Stock Exchange, which is today the only internationally publicly listed company in the world offering investors direct exposure to Myanmar.

About Quantum

Quantum Strategic Partners Limited is a multi-strategy fund that invests in capital intensive start-ups, buyouts, growth equity and other transactions. Soros Fund Management LLC (SFM) is the principal investment advisor to Quantum Strategic Partners. SFM serves as advisor to a number of Soros family private investment funds which have a multi-billion dollar aggregate asset value.

Source: Digicel Group Limited

Written by asiafreshnews

June 28, 2013 at 5:15 pm

Posted in All releases

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