Malaysia's Axiata eyes Myanmar investment

Country's biggest telco mulls expansion into Myanmar, preferably through partnerships, but it has not set a timeframe to do so.

Malaysia's largest telco Axiata Group is mulling expanding into Myanmar to tap on the country's growth potential, and is leaning toward doing so via partnering local partners.

"Myanmar is a logical and interesting market to consider investing; it represents a strategic market given its high growth potential," Axiata told Dow Jones newswire in a report Monday.

The telco added that in terms of investment, it had made some estimates but it was "too early to say".

Myanmar's plan to open up its market to foreign telcos presents an attractive opportunity for investors.

"Myanmar is one of the last untapped markets with a huge population and very low [mobile] penetration currently for foreign telcos [to aim for]," said Sachin Gupta, regional head of telecommunication research at Nomura Securities, in an April report .

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