Credit Suisse Values MobiFone VMS at +US$2 Bln
Credit Suisse, an advisor for Vietnam's second biggest mobile phone network VMS-MobiFone's privatization, has appraised total assets of the Vietnamese telecom firm at more than US$2 billion, Vietnam Economic Times said.
MobiFone has planned to sell shares to public this year, the paper said.
"MobiFone has no plans to delay share sales due to the local slumping stock market over the past time," Le Ngoc Minh, CEO of MobiFone said.
"We are ready for share sales now. MobiFone will be the first state-owned telecom provider that will have sold shares," Minh said.
"Only by privatization, MobiFone will have more incentives to boost business operations," Minh noted.
However, the MobiFone official did not reveal further about detailed privatization plans.
Last year, MobiFone made gross revenue of VND17 trillion and profit of VND6 trillion.
MobiFone had signed up a total number of 30 million mobile phone subscribers by the end of 2008.
Last year, Vietnam’s information technology (IT) and telecoms sector made revenue of nearly VND93 trillion (US$5.6 billion), up 39.1 per cent on year with 79.1 million telephone subscribers. (Vietnam Economic Times, Investment)
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