FPT yet to withdraw 700b dong deposit from EVNTelecom

FPT Joint Stock Co (FPT) said that so far it and EVNTelecom, an affiliate of Electricity of Vietnam (EVN), have not received the answer from the prime minister about FPT’s proposal of taking back over 700 billion dong deposit in the unsuccessful deal of stake purchase in EVNTelecom.
The joint proposal signed by both parties has been submitted to the Government by the end of Q2, 2011.

Earlier, FPT signed an agreement to buy 60% stake in EVN Telecom and deposited over 700 billion dong. However, the Government approved FPT for acquiring only 49% stake in EVN Telecom.

According to the Dau Tu (Investment) newspaper on September 14, EVNTelecom is submitting to the government a plan to sell its stake to Vietnam Multimedia Corp or Vietnam Television Corp (VTC).

Initial information said that EVNTelecom will sell 12% stake to VTC. VTC plans to spend an amount of 800 billion dong on this deal.

Tags: EVNTelecom

Posted by VBN on Sep 19 2011. Filed under Energy. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry