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Digicel-Soros Consortium Pledges $9 Billion Cellphone Investment

4 June 2013

If granted a license, the consortium led by billionaire George Soros bidding on cellphone licenses in Burma will invest US $9 billion in the new network, Bloomberg reported on Tuesday. The consortium includes Soros’ Digicel Group and local property developer YSH Finance. The winning bidder—12 consortia have been shortlisted for the contract—will create a high-speed 4G network in the country by Dec. 1, with coverage expected to reach 96 percent of the country by 2016, the group said. The government has said it will announce the winning bids on June 27.