DUBAI, United Arab Emirates–(BUSINESS WIRE)–M1 Group has been knowledgeable that the Myanmar Funding Fee has authorized Telenor Group’s software for the sale of Telenor Myanmar to Investcom PTE Ltd., an M1 Group affiliate.
M1 Group will probably be working with Telenor Group and all stakeholders to make sure continuity, stability, and reliability for all Telenor Myanmar prospects, staff, and enterprise companions; and can shut the transaction as quickly as potential.
In response, Azmi T. Mikati, CEO of M1 Group, mentioned: “We’re happy with the end result of the official resolution. M1 Group is dedicated to assist Investcom PTE in offering important communications companies and investing to develop the telecommunications infrastructure, even within the face of probably the most difficult circumstances. Investcom will conduct enterprise in Myanmar purposefully to learn the folks of Myanmar, who depend on communication companies as a significant perform of their lives.”
Mr. Mikati additional added: “M1 Group has a decades-long observe file in delivering important companies to folks in rising economies around the globe. M1 Group has all the time, and can all the time, stay dedicated to upholding human rights, respecting the legal guidelines of the international locations it operates in whereas advocating for shopper safety laws, particularly when it comes to information safety, information resilience, privateness, connectivity, roaming, and web entry. M1 Group isn’t shying away from extending its technical know-how to assist the folks of Myanmar, even amidst uncertainty. Our dedication is to making sure everybody has entry to high-quality telecommunications they’ll depend on.”
M1 Group first introduced the settlement with Telenor Group to accumulate its Myanmar operations in July 2021. The choice to put money into Myanmar was based mostly on the basic premise that each particular person, in each nation, has the correct to have entry to important telecommunications infrastructure. It additionally displays M1 Group’s steadfast dedication to supporting financial development, even beneath probably the most hectic situations, and to making sure the event of a world-class telecom operation.
For the Myanmar market, M1 Group is partnering with the Shwe Byain Phyu (SBP) Group, by means of Investcom PTE, which is the brand new entity that may take over possession.
M1 Group stays dedicated to play a invaluable function within the lives of individuals in Myanmar and preserving the values of care, belief, solidarity and expertise edge, all whereas striving for development and social impression, remaining near folks’s hearts.
Mr. Mikati concluded: “I want to thank your complete administration workforce and staff of Telenor Myanmar for his or her tiresome efforts to construct Telenor Myanmar into the market chief it’s at present. M1 Group firmly intends to play a invaluable function within the lives of the folks of Myanmar by delivering important communications companies in a purposeful, sustainable and socially accountable method. We cherish the relationships established with prospects and enterprise companions in Myanmar by means of Telenor’s operations and we’re dedicated to constructing belief and striving for social impression and expertise improvement to learn the folks of Myanmar.”
-Ends-
About M1 Group
M1 Group is an funding holding firm which owns, manages, and oversees investments and subsidiaries in a various array of sectors, together with telecommunications, actual property, vogue, and retail.
About Investcom PTE Ltd.
A joint-venture (JV) between M1 Group and the Shwe Byain Phyu (SBP) Group. The brand new entity (Q1 2022) took over the Telenor Myanmar telecom operations. Its most important aims are to make sure continuity, stability, and reliability for all Telenor Myanmar prospects, staff, and enterprise companions.
===