April 4, 2013 / 10:24 AM / 6 years ago

China Mobile and Vodafone team up for Myanmar license

A labourer works in front of a sign for China Mobile at the company's office in downtown Shanghai March 11, 2013. REUTERS/Carlos Barria

LONDON (Reuters) - China Mobile (0941.HK) and Vodafone (VOD.L), the world’s largest and second largest mobile operators, have joined forces to apply for a license to roll out a network in Myanmar.

Vodafone said the two groups had agreed to form a consortium to bid for a license in the former Burma, where the government is seeking to increase the number of mobile operators from two to four.

“With a comparatively young and highly literate population of around 60 million, a GDP growth rate of 5.5 percent per annum and mobile phone penetration currently below 10 percent - significantly lower than in many other emerging economies - Myanmar will be an important new market for the global mobile industry,” Vodafone said.

Reporting by Kate Holton

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