Vodafone Group Plc (VOD.L,VOD) and China Mobile Limited (CHL) announced their decision to withdraw from the process to award two telecommunications licences in Myanmar. The Vodafone-China Mobile consortium was amongst the short-listed applicants for the final bid.
The companies said, following the publication of the final licence conditions, the consortium has decided 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.
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