Digicel announces plan to offload Burma subsidiary
Denis O’Brien to sell 75% stake in company to Edotco
Digicel had previously teamed up with currency dealer George Sores and Mr Pun’s Yoma group in an unsuccessful bid to win a licence in Myanmar
The transaction values 100 per cent of Myanmar Tower Company at $221 million.
Digicel, which plans to float on the New York Stock Exchange, formed DAH with Mr Pun two years ago to build and lease a network of mobile phone masts to Ooredoo, a Qatari company which won a mobile phone licence in Burma in 2013.
Group chief executive Colm Delves said the sale represented “a strong return on our investment in Digicel Myanmar Tower Company.”