TPG Joins Ex-LightSquared CEO in Myanmar Telecom Venture (Asia)

Source: Bloomberg  |  Author(s): David Carey

TPG Growth, the middle market and growth equity platform of global private investment firm TPG, has invested US$40 million in Apollo Towers Myanmar, a Myanmar-focused telecommunications venture led by Sanjiv Ahuja, the former CEO of LightSquared. The investment will support Apollo’s plans to build and manage approximately 1,000 mobile communications towers across Myanmar this year. In December 2013, Norwegian telecommunications firm Telenor, holder of a nationwide telecommunications license through its Myanmar-focused subsidiary, selected Apollo as an official vendor to build and manage telecom towers in the country.