The heavyweight partnership between Vodafone and China Mobile has dropped out of the contest to win a cellular licence in Myanmar.
The two companies have decided “not to proceed with the process as the opportunity does not meet the strict internal investment criteria to which both Vodafone and China Mobile adhere,” said the UK operator in a statement, without being more specific about why the two companies have changed their mind about a bid.
The decision follows the publication of the final licence conditions on 20 May. The two operators announced they were forming a consortium in April.
There are two licences on offer in Myanmar. And the bid has attracted a lot of interest because of the market’s untapped potential for growth. Twelve applicants (including Vodafone-China Mobile) made it to the shortlist.