Ananda 4G+ Network Operator Business Transfer Announcement

Amara Communications Co., Ltd. is holding the 2600MHz Spectrum License awarded by Ministry of Transport and Communications for winning the auction with the bid value of over USD 120 million. Since 2018, Amara is providing Ananda Wireless Broadband 4G+ Network Operator in Yangon and Mandalay.

2022-01-27

In addition to providing WBB connection, Amara Communications aims to provide different other digital technology services, to expand the 4G+ network operations across Myanmar, and to effectively collaborate with local and international partners. Moreover, the positive changes are thoroughly implemented in the organization with an objective to expend the business of technology.


Aung Toe, a 22-year-old young talented entrepreneur with solid understanding of the technology challenges and digital future opportunities, confidently proposed to take over Ananda 4G+ Network Service Business just before the COVID-19 pandemic started in 2020. His proposal comes from in-dept analysis on the potentiality of the business in different crucial aspects, such as his own work experience, financial and business feasibility, technological expertise, and market requirement and competition. Aung Toe has a dream of working to build the Digital Myanmar Society. He sets his goals high but realistic, while he also always pursues them with short-term and long-term objectives and plans. Based on his expertise in technology and business, he has successfully established IT related businesses in India and the US within an impressively short period of time.


After carefully evaluating his high-quality proposal along with his best-intended goals, relentless efforts, unparalleled ambitions, and his proven ability to transform the business and its value into full potential, Amara Communications has decided to transfer its technology business, Ananda, to Aung Toe.


Henceforth, Aung Toe, with the vision and drive to digital transformation for all-inclusive ecosystem,will take over and strategically lead Ananda 4G+ Network Operator as the Board Chairman of Amara Communications Co., Ltd, who has the absolute power for strategic direction and decision making of the business matters.


The transfer of controlling interest (Share Transfer) of Amara Communications is agreed in principle.However, the formal transaction is yet to be completed by obtaining the necessary regulatory approvals. The details of the transaction will be disclosed upon completion.


Ne Aung


https://www.ige.com.mm/blog/news-1/ananda-4g-network-operator-business-transfer-announcement-18