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Norwegian telecom takeovers Vietnamese advertising sites

Update: May, 15/2017 - 17:18
The change of shareholders will not affect the business strategy of ChợTốt as Telenor joined the board of management of 701Search in 2013 and is an important part of the company. - Photo nhipcaudautu.vn
Viet Nam News

HÀ NỘI – Two Vietnamese advertising online markets, ChợTốt and ImSold, which both belong to 701Search, will be handed over to Telenor ASA, a Norwegian telecommunication company, in June.

Additionally, Telenor reached an agreement with Schibsted to divest from a joint venture with Schibsted in Latin America and bought back its stakes in markets of Malaysia, Việt Nam and Myanmar, ICTnews.vn reported.

Telenor  also signed an agreement with Singapore Press Holdings to buy shares in advertising online sites in Malaysia, Việt Nam and Myanmar with a deal worth US$110 million.

ChợTốt was launched in 2012 and is a leading advertising online market in Việt Nam.

The change of shareholders will not affect the business strategy of ChợTốt as Telenor joined the board of management of 701Search in 2013 and is an important part of the company, CEO of ChợTốt said in a press release.

Telenor is one of the largest telecom corporations in the world with revenues of more than $15.3 billion last year and is currently active in 13 countries. – VNS

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