The do’s and don’ts of buying an existing towerco in Myanmar

27
Jun
2015

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As bidders position themselves for the first ever acquisition of a towerco in Myanmar, we take a look at the possible acquisition structures, the required Government approvals and the key regulatory issues to consider. Or, can potential buyers still do a greenfield market entry instead?

Highlights of this note

  • When buying a towerco in Myanmar, these are the key issues to consider:
  • The due diligence on the ground lease approvals and permits will not be easy
  • A share deal is preferable over an asset deal
  • Buying at the offshore level is the easiest, less approvals needed
  • The untested competition rules are a wildcard for bidders who already own infrastructure in Myanmar
  • You will always need PTD approval for the transfer, even if you buy the foreign parent company
  • A greenfield entry is still a feasible alternative, given the current licensing policy
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