21st Dec 2015 12:01
LONDON (Alliance News) - Myanmar-focused social media and entertainment company MySQUAR Ltd said Monday it has entered a cross-promotion partnership with Ooredoo Myanmar, a telecommunications provider owned by Qatar Telecom.
This partnership will run initial from the beginning of January, but is extendible from then, MySQUAR said.
Under the agreement Ooredoo will build MySQUAR's myCHAT application into its marketing strategy, using the app to promote its own services. Financial details of the agreement were undisclosed.
"This is a very significant development in that Ooredoo has not only recognised the pivotal role MyCHAT is playing in Myanmar's mobile telecommunications revolution, but has also acknowledged that its own success can be assisted by our own. This is increasingly the case in our discussions with commercial organisations and I expect that to be reflected in our success moving forward," said Chief Executive Officer Eric Schaer in a statement.
Shares in MySQUAR were down 2.4% at 5.12 pence Monday shortly after midday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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