3:26:36 PM | 7/8/2005
Privatization formalities for the two largest mobile phone networks in Vietnam, MobiFone and Vinaphone, will complete within this year, said Deputy Minister of Post & Telecoms Tran Duc Lai.
The privatization of the two mobile phone giants is part of several developments noted in a Prime Ministerial decision that approves the pilot program to establish the Vietnam Post & Telecoms Group.
According to Mr. Lai, after its business cooperation contract (BCC) with Sweden’s Comvik Group ends in May 2005 the assessment of MobiFone will be conducted immediately.
Assessment of Vinaphone will take longer since a section of its assets are controlled by local post offices.
Vinaphone has signed up 2.7 million subscribers and MobiFone 2.25 million subscribers. Both of the networks use GSM (Global Technology for Mobile Communication) technology.
Vietnamese
