The Government has issued a decision to allow Viettel Mobile, the countrys third largest mobile provider, to equitise into a joint-stock company in order to attract external financing, announced the military-run firm
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The Government has issued a decision to allow Viettel Mobile, the countrys third largest mobile provider, to equitise into a joint-stock company in order to attract external financing, announced the military-run firm.
Under the proposal, the State would retain control in the company as a major shareholder with a stake of at least 51 percent.
"We are discussing a schedule for equitisation, but no date has yet been set," said Viettel Mobile deputy director Nguyen Manh Hung on March 6. The company has not yet released information on its pre-equitisation asset valuation.
Vinaphone and MobiFone, the countrys largest mobile network operators, also plan to equitise and issue shares on the stock market before years end, according to parent firm Viet Nam Post and Telecommunications Corporation (VNPT).
Vinaphone assets, in terms of user subscriptions, reached 1.6 billion USD by the end of 2005, while those of MobiFone stood at about 1 billion USD, said VNPT.
Viettel Mobile currently has 2.3 million subscribers, while Vinaphone and MobiFone have about 4 million and 3.8 million, respectively, according to the Ministry of Posts and Telematics.
(Source: VNA)
