VNPT submits detailed equitisation plans for MobiFone (Vietnam)
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The state-owned Vietnam Posts and Telecommunications Corporation (VNPT) will submit a detailed equitisation plan for MobiFone, its mobile telephone network provider, to the Ministry of Post and Telematics this September. MobiFone is owned by the Vietnam Mobile Telecommunications Services Company (VMS), a subsidiary of VNPT. The government will retain 51 per cent stake in MobiFone following the company's conversion to shareholding status, with the remaining 49 per cent – currently held by Comvik and the Norwegian company Telenor – being sold to the public. VMS and Comvik International Vietnam AB have collectively invested more than $456 million in the MobiFone network. The equitisation will allow the company to raise funds from different domestic and foreign sources to expand operations. MobiFone plans to invest $145 million this year to improve the capacity of its network.
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