Why SingTel won't be badly hurt by Myanmar bid loss

Market is just 5% of total EV.

According to DBS, Myanmar proceeds last week to award the telco licenses. The winners of the tender are Qatar-based Ooredoo and Norway-based Telenor with France Orange-Telecom as back up should any of the winners be disqualified.

DBS had estimated that the Myanmar market is worth US$2.8bn or just about 5% of SingTel’s total EV. Hence, a win may still not have a significant on SingTel’s earnings.

"Rather, we remain concerned on Bharti’s recovery prospects and losses from SingTel’s digital business. We also have concerns regarding weak AUD, INR and maintain Hold on SingTel," DBS said.

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