CamGSM seeking new investor?

6 Mar 2014

The owners of Cambodian mobile operator CamGSM (Mobitel/Cellcard) are reportedly looking at selling part of their stake to a strategic investor, TMT Finance cites sources as saying. According to the report, a number of trade and private equity parties are continuing to look at the possibility of either acquiring a stake in CamGSM, or its 3,000 telecom towers. ANZ was previously hired to seek buyers for a majority stake in the cellco, and while both Orange Group and PT Telkom Indonesia were both looking at acquiring the business, talks eventually broke down during the due diligence process. ‘The company needs capital to invest in its network, but the current lenders (including Bank of China) are now maxed out. CamGSM has restructured its loan agreements and now struggles to service its debt,’ one source stated. Sources also said that CamGSM has held talks over the sale of its towers, with ‘several’ potential buyers thought to be looking at the assets. Tower Bersama previously conducted due diligence on the towers, but decided not to follow through.

TeleGeography’s GlobalComms Database notes that CamGSM is Cambodia’s third largest mobile operator by subscribers, with an estimated 20.5% share of the market at the end of 2013. In August 2009 Luxembourg’s Millicom International Cellular (MIC) agreed to sell its 58.4% stake in CamGSM to the Royal Group of Cambodia, which already held the remaining 41.6%. For USD346 million in cash, the Royal Group acquired MIC’s stake, as well as its holdings in Royal Telecom International and Cambodia Broadcasting Services. The transaction received approval from the regulator and was completed in November 2009.

Cambodia,CamGSM (Cellcard), Orange Group, Telkom Indonesia,



Have feedback, corrections, or story ideas? Send them to

Browse Past Issues


Filter CommsUpdate by the following categories or use the search.


Visit our help page information on performing advanced searches, including how to restrict the results by country or company.


CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.