DUBAI, United Arab Emirates–(BUSINESS WIRE)–Mar 18, 2022–
M1 Group has been knowledgeable that the Myanmar Funding Fee has accepted Telenor Group ’s software for the sale of Telenor Myanmar to Investcom PTE Ltd., an M1 Group affiliate.
M1 Group will likely be working with TelenorGroup and all stakeholders to make sure continuity, stability, and reliability for all Telenor Myanmar prospects, workers, and enterprise companions; and can shut the transaction as quickly as doable.
In response, Azmi T. Mikati, CEO of M1 Group, mentioned: “We’re happy with the end result of the official determination. M1 Group is dedicated to help Investcom PTE in offering important communications providers and investing to develop the telecommunications infrastructure, even within the face of essentially the most difficult circumstances. Investcom will conduct enterprise in Myanmar purposefully to profit the folks of Myanmar, who depend on communication providers as an important operate of their lives.”
Mr. Mikati additional added: “M1 Group has a decades-long observe file in delivering important providers to folks in rising economies around the globe. M1 Group has at all times, and can at all times, stay dedicated to upholding human rights, respecting the legal guidelines of the international locations it operates in whereas advocating for client safety laws, particularly when it comes to information safety, information resilience, privateness, connectivity, roaming, and web entry. M1 Group just isn’t shying away from extending its technical know-how to help 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 amass its Myanmar operations in July 2021. The choice to spend money on Myanmar was primarily based on the elemental premise that each particular person, in each nation, has the proper to have entry to important telecommunications infrastructure. It additionally displays M1 Group’s steadfast dedication to supporting financial development, even below essentially the most traumatic circumstances, 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 can take over possession.
M1 Group stays dedicated to play a beneficial function within the lives of individuals in Myanmar and preserving the values of care, belief, solidarity and know-how edge, all whereas striving for development and social influence, remaining near folks’s hearts.
Mr. Mikati concluded: “I want to thank your entire administration workforce and workers of Telenor Myanmar for his or her tiresome efforts to construct Telenor Myanmar into the market chief it’s right this moment. M1 Group firmly intends to play a beneficial function within the lives of the folks of Myanmar by delivering important communications providers in a purposeful, sustainable and socially accountable manner. 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 influence and know-how improvement to profit the folks of Myanmar.”
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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, trend, 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 targets are to make sure continuity, stability, and reliability for all Telenor Myanmar prospects, workers, and enterprise companions.
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CONTACT: For extra particulars and media enquiries, please contact:
M1 Group Press Workplace
Hicham Ramadan
KEYWORD: MYANMAR UNITED ARAB EMIRATES MIDDLE EAST ASIA PACIFIC
INDUSTRY KEYWORD: TECHNOLOGY MOBILE/WIRELESS FINANCE SECURITY TELECOMMUNICATIONS PROFESSIONAL SERVICES NETWORKS INTERNET DATA MANAGEMENT
SOURCE: M1 Group
Copyright Enterprise Wire 2022.
PUB: 03/18/2022 07:31 AM/DISC: 03/18/2022 07:32 AM
http://www.businesswire.com/information/residence/20220318005143/en
Copyright Enterprise Wire 2022.