Myanmar awards telecom contracts to Telenor and Ooredoo

  • Myanmar has awarded telecom licenses to Norway's Telenor and Qatar’s Ooredoo, government officials announced on Thursday.

    Only 9 percent of Myanmar’s 60 million people have mobile phones making the country one of the last untapped mobile markets.

    Telenor and Ooredoo beat bids placed by nine other foreign companies in provide telecommunications infrastructure in the country.

    The two firms will have to supply voice and data services across much of the country within the next five years.

    Neither Telenor nor Ooredoo disclosed the value of their bid or how much money they will invest into the country.

    Analysts expect it will cost more than more than $3 billion to create a network across Myanmar.