EVN Telecom merger urged

EVN Telecom, a subsidiary of the Vietnam Electricity Group (EVN), have been reported to be suffering considerable losses and debt related to connection fees and frequency charges.
Deputy Minister of Information and Communications Le Nam Thang said that it was time to merge EVN Telecom with another State-owned network operator.

In accordance with a recent financial inspection, Prime Minister Nguyen Tan Dung called on the Ministry of Industry and Trade and the Ministry of Finance to examine EVN’s investment in other sectors, including the investments of EVN Telecom.

However, the final decision whether to merge the electricity group’s carrier with another telecommunications service provider is yet to be made. Meanwhile, an EVN source told local press that EVN Telecom, along with the military-run Viettel Corp, would likely be subject to mergers.

Experts in the telecommunications industry alleged that only Viettel was capable of reviving EVN thanks to its financial capacity and experience. A Viettel source told Vietnam News this morning that the corporation was waiting for the Prime Minister’s final decision.

“If our company gets involved in the merger, we will execute the decision,” the source confirmed.

Viettel has put into use a new production line of mobile phones, tablets, all-in-one computers, network infrastructure and military information equipment.

Vietnam News

Tags: EVN Telecom

Posted by VBN on Oct 21 2011. Filed under Telecommunication. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry