“It's a very good opportunity in southeast Asia,” said Nasser Marifih, the company’s CEO, to Bloomberg. “In terms of financing, we have the capability to do that.”

Marifih told Bloomberg that Ooredoo had made a “strong, compelling offer.”

“We still believe we have a strong chance to win this bid,” he said.

Earlier this month, the Myanmar government announced that international telecoms giants have been roped into a pageant as they jostle for two operating licenses in Myanmar ahead of final bids in June.

The government has hired Roland Berger, Munich-based strategy consultants that employ a network of some 240 partners worldwide, to map out selection criteria for the competition.

Twelve players pre-qualified for the licenses on April 11. The winning bids will be announced in Naypyitaw on June 27.