Altimo, Russia’s leading telecom group, is showing its interest in investing in one of the three major names in Vietnam including VinaPhone, MobiFone or Viettel, Dmitry Vozianov, Vice President of Altimo, has said.
“Our investment will help boost our would-be partner with management capability, experience and technical assistance,” the official added without mentioning to details of the investment plan.
“We have met with officials of the three companies. They are now in the privatization process so we have to wait,” Dmitry Vozianov revealed, believing whomever it chooses will become the telecom leader in the country.
Vietnam is not the only market of Altimo in the Southeast Asia region. The group has already been pouring money into Cambodia.
“Our partners in Vietnam are mostly state-owned enterprises, so it has been more difficult for us to get through the red-tape than in Cambodia, where our partners are private firms,” Dmitry Vozianov admitted, affirming that his company still ranks Vietnam as its number one priority.
Coming to Vietnam one and a half years ago with the focus on local telecom companies, Altimo boasts US$30 billion in assets and a global reputation.
Currently, Vietnam has six mobile phone networks serving 24 million subscribers. Vinaphone, Viettel Mobile and MobiFone are largest networks with round seven million subscribers each.
By the end of 2010, internet and telecom services throughout Vietnam are expected to reap close to US$3.5 billion annually. (Vietnam Economic Times, VietNamNet)
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