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VNPT to equitise Vina, MobiFone

The Viet Nam Post and Telecommunications Corporation (VNPT) said it will equitise the operators of Viet Nam’s two largest mobile phone service providers.

VNPT said it will submit its plan to bring public its two subsidiaries, Telecom Services Company, owner of Vinaphone and Viet Nam Mobile Telecom Service owner MobiFone to the Ministry of Post and Telematics for approval by December.

To fulfil the target of equitising more than 30 subsidiaries this year, VNPT is selling shares of nine of its companies, according to an VNPT official.

So far, five of VNPT’s subsidiaries have been equitised: the Telecommunications-Informatics-Electronics Joint Stock Company, the Post and Telecommunications Investment and Construction Joint Stock Company, the Postal Materials Company, DNTD and the Viet Nam Data Communication Corporation.

The Ministry of Post and Telematics said an intermediary financial institution will be appointed to auction the stocks of the two telecom companies, possibly the Viet Nam Insurance Corporation (Bao Viet).

Vietnam economic review - (22/09/2004)

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