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MobiFone to get charter capital of $600m

Update: July, 01/2014 - 09:19
The second largest mobile network operator MobiFone will have a charter capital of VND12,600 billion (US$600 million), according to a decision of the Ministry of Information and Communications. — Photo dantri.com.vn

HA NOI  (VNS) — MobiFone, the second-largest Vietnamese mobile network operator, will have a charter capital of VND12.60 trilllion or US$600 million.

This was announced in Decision No 877 of the Ministry of Information and Communications, issued yesterday.

The separation of the firm from the Vietnam Posts and Telecommunications Group (VNPT) will be carried out based on its accounts documents, inventory and financial reports of first six months of this year. The company is required to operate in five main sectors, namely construction, running and providing telecommunications and IT services, and assembling and producing electronic, telecom and IT parts. MobiFone will be detached from VNPT and be under the management of the ministry from today. — VNS


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