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Business deals

Myanmar telco Frontiir bags $30m from UK development finance group

Investment from CDC Group to help bring over 2 million people online

Frontiir plans to expand its service coverage to lower-income townships within Yangon and Mandalay, and expects to grow to 22 cities and towns by 2022.   © Reuters

JAKARTA -- CDC Group, the U.K.-based development finance institution, has invested $30 million in Yangon's internet service provider Frontiir, marking its first direct equity investment in Myanmar.

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