Kathmandu. Malaysia’s telecom operator Aziata Group has announced that it will sell its investment in Myanmar’s telecom.

“The Vision Times” mentioned that Aziata announced that he will sell the ownership of the entire Telco tower in “Edotco Myanmar” for 150 million dollars.

Aziata mentioned that he is going to leave Myanmar due to the difficulty of operating the deteriorating economy of Myanmar.

In 2015, Aziata’s Adot Group entered Myanmar by taking a stake in Myanmar Tower Company. At that time, the value of Myanmar Enterprise was 221 million US dollars.

Aziata is going to exit by selling all operations that were worth 221 million dollars 9 years ago for 150 million dollars. In addition to this, the Qatari telecom group ‘Oredoo’ sold its business in Myanmar in 2022 and exited.

The military coup in 2021 plunged Myanmar into a political and humanitarian crisis. The effect of which is also beginning to be seen in Myanmar’s economy.