Ooredoo Q.P.S.C. (DSM:ORDS) plans to sell its Myanmar operations to The One Matrix Ventures (TOMV), according to three people with direct knowledge of the matter. Ooredoo is the last majority foreign-owned telecoms company in Myanmar since a rush to exit after last year's military coup. Norway's Telenor withdrew from the country in March this year in a departure mired in difficulty.

The sources said that TOMV is in talks with several potential partners in Myanmar to join the deal to help secure regulatory approval, without providing further details. One of the sources said that Doha-based Ooredoo had informed Myanmar's Posts and Telecommunications Department (PTD), the country's regulator, of its intention to sell its operations to Myo Myint Ohn but not yet asked for official approval.