OREANDA-NEWS. Vodafone Group Plc (“Vodafone”) and China Mobile Limited (“China Mobile”) today announce their decision to withdraw from the process to award two telecommunications licences in Myanmar.

The Vodafone-China Mobile consortium was amongst twelve short-listed applicants due to submit their final bid to the Myanmar authorities on 3 June. Following the publication of the final licence conditions on 20 May, the Vodafone-China Mobile consortium has reached the decision 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.

Vodafone and China Mobile will continue to watch Myanmar’s progress with interest and will give due consideration to any future opportunities that would meet the companies’ investment criteria.