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.
For further information:
Vodafone Group Media +44 (0) 1635 664444 www.vodafone.com/media
Vodafone Investor Relations +44 (0) 7919 990230 www.vodafone.com/investor
China Mobile Media Relations +852 3121 8888 email@example.com
China Mobile Investor Relations +852 3121 8888 firstname.lastname@example.org
Notes for Editors:
Vodafone & China Mobile Form Consortium for Myanmar Licence: http://www.vodafone.com/content/index/media/group_press_releases/2013/myanmar.html
Vodafone is one of the world's largest mobile communications companies by revenue with approximately 404 million customers in its controlled and jointly controlled markets as of 31 March 2013. Vodafone currently has equity interests in 30 countries across five continents and around 50 partner networks worldwide. For more information, please visit: www.vodafone.com
About China Mobile
China Mobile boasts the world’s largest mobile network and subscriber base. It has over 720 million subscribers by the end of February 2013. China Mobile has been selected into Fortune 500 list in 2012, Dow Jones Sustainability Indexes for five consecutive years, and BrandZ™ Top 100 list by Financial Times and Millward Brown for seven consecutive years, with leading brand value in the global telecom industry. For more information, please visit www.chinamobileltd.com
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