Digicel Assembles Consortium To Secure Telecommunications Licence In Myanmar
NAY PYI TAW, Myanmar, April 4, 2013 /PRNewswire/ -- Digicel has assembled a consortium with a view to securing one of the two new telecommunications licences being offered by the Government of the Republic of the Union of Myanmar and, as part of the tender process, today submitted its pre-qualification application.
The consortium brings together expertise from the worlds of telecommunications, strategic investment, banking and infrastructure, and comprises Digicel Group, Quantum Strategic Partners Ltd. and the Yoma Strategic Holdings group. It features three of the world's most recognisable businessmen delivering a unique blend of expertise and ability:
- Denis O' Brien whose Digicel Group is renowned across the globe for delivering affordable and accessible first class communications services to emerging markets;
- George Soros 's Quantum Strategic Partners Limited which brings its unique strategic investment expertise;
- Serge Pun , a globally recognised business leader in Myanmar, through YSH Finance Ltd, a company within the Yoma Strategic Holdings group.
Quantum Strategic Partners Ltd. is a multi-strategy fund that invests in capital-intensive start-ups, buyouts, growth equity, and other transactions. Soros Fund Management LLC (SFM) is the principal investment advisor to Quantum Strategic Partners. SFM serves as advisor to a number of Soros family private investment funds which have a multi-billion dollar aggregate asset value.
YSH Finance Ltd. is a newly established holding company which is 80% owned by Yoma Strategic Holdings Ltd. and 20% owned by First Myanmar Investment Co. Ltd. Yoma Strategic Holdings Ltd is listed on the main board of the Singapore Securities Exchange Trading Limited (SGX-ST).Denis O'Brien, Digicel Group's founder and Chairman comments; "Digicel has been successful in entering recently liberalised markets and driving teledensity in underserved countries across the globe. With current mobile penetration below 10% in Myanmar, we are committed to rolling out a world-class telecommunications network and have submitted a pre-qualification application to the Government of Myanmar." "The liberalisation of the telecommunications market in Myanmar will serve as an important economic stimulus for the country," said George Soros. "I am delighted to partner with Digicel Group and Yoma Strategic Holdings to provide Myanmar with the most advanced telecommunications networks. I am confident that our consortium has the expertise and experience to deliver world class service." Serge Pun concludes; "The leaders of this consortium share a common objective to offer affordable first class communications to the people of Myanmar. We believe we are uniquely placed to deliver this vision." ABOUT DIGICEL Digicel Group Limited is a leading global communications provider with operations in 31 markets in the Caribbean, Central America and Asia Pacific. After 12 years of operation, total investment to date stands at over US$4.5 billion worldwide. The company is renowned for delivering best value, best service and best network. Digicel runs a host of community-based initiatives across its markets and has set up Digicel Foundations in Jamaica, Haiti, Papua New Guinea and Trinidad and Tobago which focus on educational, cultural and social development programmes. Digicel is the lead sponsor of Caribbean, Central American and Pacific sports teams and individuals including the world's fastest man, Usain Bolt and Special Olympics teams throughout these regions. Digicel also sponsors the West Indies cricket team. Since 2012, Digicel has been the title sponsor of the Myanmar Football Federation and the Myanmar Special Olympics Federation. Visit www.digicelgroup.com for more information. SOURCE Digicel Group Limited
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