MTN disappointed to miss out on the opportunity to operate a telecommunications network in Myanmar.

It is now official, after having participated for the acquisition of the multi-billion dollar bid to build the Myanmar’s next-generation mobile network, MTN failed. Norway’s Telenor (STO: TELO) and
Qatar’s Ooredoo (LSE: QTED) are the two selected mobile telcos.

For those who unfamiliar, the MTN Consortium, which included Myanmar-based Amara Communications and M1 Telecom Limited, was part of the highly competitive bid process involving 11 other international operators.

‘’In keeping with our strategy to continue exploring and evaluating suitable opportunities for further growth in developing countries, MTN still considers Myanmar an attractive market. To this end, we will review other options as they become available, and make a decision after the appropriate due consideration’’. Noted MTN Group.

About the MTN Group

Launched in 1994, the MTN Group is a leading emerging market operator, connecting subscribers in 22 countries in Africa, Asia and the Middle East. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code: “MTN.” As of 30 April 2013, MTN recorded 197.4 million subscribers across 22 countries.