Illustrative image (Source: VNA) Hanoi (VNA) – Two giants mobile networkoperators MobiFone Telecommunications Corporation (MobiFone) and Vietnam Postand Telecommunications Group (VNPT) are aiming to conduct their equitisation inthe 2016-2020 period.
The two companies are included on the list of 240State-owned enterprises undergoing re-organisation in the 2016-2020 period.Following their equitisation, the State will hold from 50 to less than 65percent of the companies’ chartered capital.
Vietnam’s three leading telecom companies, VNPT,MobiFone and Military-run telecom Group (Viettel) currently hold 97 percent ofthe domestic market share, with the State holding 100 percent of theirchartered capital.
Therefore, the companies’ implementation of equitisationto reduce the State’s ownership is inevitable, said Mai Liem Truc, formerGeneral Director of the General Post Office.
Truc said the State holding of 50 to less than 65percent of the companies’ chartered capital is considered reasonable andacceptable.
VNPT Chairman Tran Manh Hung said the group iscarefully preparing for the execution of its equitisation plan in the 2016-2020period.
MobiFone was planned to be equitised from 2014, thetime it becoming independent from VNPT, however, two years later, the company’sequitisation plan has been delayed.
In early 2016, MobiFone completed the enterprisevaluation process but is now facing inspection over its acquisition of An VienTelevision, which is likely to affect the business value of MobiFone.
It is when the final result of this acquisition isdisclosed that MobiFone cam implement its equitisation.-VNA
