Qatari telecoms giant Ooredoo is considering selling its Myanmar unit, a source with knowledge of the matter told Reuters, following the exit of Norwegian carrier, Telenor, in March this year.
Ooredoo is now the only foreign telecoms service provider operating in Myanmar amid the increasing pressure on the local industry, the result of the military coup launched in February 2021.
According to sources cited by Reuters, Ooredoo has notified the local regulator, Myanmar's Posts and Telecommunications Department (PTD), of its plans to sell its Myanmar unit for an undisclosed amount.
One insider also told Reuters that potentially interested investors could include local conglomerate Young Investment Group, Singapore-headquartered network infrastructure operator Campana Group, and telecoms company SkyNet.
No final decision has yet been made regarding the potential buyers.
Reuters said the Doha-based telecom firm did not immediately respond to its emailed inquiry. The news agency also said it tried to reach the interested investors, but no immediate comment has been given.
The departure of Telenor earlier this year took place after Reuters last year reported that the PTD has issued a directive, which bans senior foreign executives of major telecommunications firms from leaving Myanmar without permission. After this ban, the junta then released a second order instructing telecoms firms to fully implement an intercept surveillance technology, enabling authorities to monitor various communication channels.