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VNPT to hold 20% of Mobifone: Ministry

Update: June, 19/2014 - 08:43
VNPT may keep 20 per cent of register capital of Mobifone, which is estimated to reach more than US$4 billion in revenue in the near future. — Photo

HA NOI  (VNS ) — State-owned Viet Nam Posts and Telecommunications Group (VNPT) will likely hold 20 per cent of the registered capital of mobile network operator Mobifone, according to the Ministry of Information and Communication (MIC).

This is the maximum stake allowed under the cross-ownership regulation of the 2009 Telecommunication Law.

After officially separating from the VNPT on June 10, Mobifone, a large operator, is under the management of MIC. It will be re-organised in the second quarter of 2014. The company's equitisation plan will be completed and submitted to the Prime Minister in the last quarter of 2014.

Previously, a report from the HCM City Stock Exchange estimated that Mobifone had a value of about US$3.4 billion. This value may rise to more than $4 billion if the company's revenue and profit continuously increase after separating from VNPT. — VNS

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