Qatar-based Ooredoo, the last foreign-owned telecommunications provider in Myanmar, has finalised a deal to sell its operation in the military-ruled country to a Singapore-based investor.
The Myanmar unit of Oreedoo will be sold to Singapore-based Nine Communications Pte Ltd, the company said on Thursday. The transaction, with an enterprise value of US$576 million and a total equity consideration of $162 million, is subject to the customary closing conditions, including Myanmar regulatory approvals, it said in a statement.
