Gov't Backs Vinaphone, MobiFone Privatization
The Vietnamese Government has showed its backing for the plan to privatize Vinaphone and MobiFone networks, the two country’s largest mobile phone service networks, local media quotes Deputy Prime Minister Nguyen Tan Dung’s conclusions after he worked with operators of the two networks.
The deputy prime minister has required relevant ministries to work out the detailed Vinaphone and MobiFone privatization plan to send to the Prime Minister for approval within the first quarter of 2006.
According to local investors, Vinaphone and MobiFone shares will attract great interest of investors because the two networks have secured strong footholds in the local booming mobile phone service market.
MobiFone’s assets in terms of subscribers have reached more than US$1 billion if each subscriber is counted for US$50 while the assets of Vinaphone are US$1.6 billion, exclusive for their investments in their networks.
Vinaphone has over three million subscribers while MobiFone has signed up for more than two million.
The State-run Vietnam Posts and Telecoms (VNPT), the current owner of Vinaphone and MobiFone, has so far equitized 26 affiliated enterprises and other nine companies are conducting necessary procedures.
At present, four companies under VNPT have been listed on the stock market, including Cable and Telecom Materials Co. (Sacom), Telecoms Joint Stock Co. (VTC), Hanoi Post and Telecom Construction Joint Stock Co., and Posts and Telecoms Equipment Factory (Postef).
Liberated Saigon
Vietnamese
