Telenor sees "considerable" investments in Myanmar ahead

OSLO, June 27 Thu Jun 27, 2013 8:35am EDT

OSLO, June 27 (Reuters) - Norway's Telenor expects to invest heavily in Myanmar after negotiating terms with the country's government over its telecommunications license, the company's top executive said on Thursday.

Telenor and Qatar's Ooredoo has been awarded one license each in Myanmar after a tender that will bring foreign companies into the sector for the first time.

Telenor expects about 10,000 base stations to be built in the country according to CEO Jon Baksaak.

He added that the investments would be "considerable" and that it would take a few years for the project, that is planned to start in the second quarter of next year, to break even. (Reporting by Joachim Dagenborg; Writing by Victoria Klesty; Editing by Elaine Hardcastle)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.