MobiFone required to equitise this year

In 2011, Vietnam Mobile Telecom Services Co (VMS-MobiFone) is required to make equitisation to restructure the business and contribute to the restructuring of the economy.

The above information was given by Le Doan Hop, minister of information and communication, in the morning February 16, after finishing the meeting on the implementation of the scheme to bring Vietnam to become a strong country in information and technology and communication.

According to the minister, the MobiFone’s mandatory equitisation is to improve the competitiveness, conduct the innovation, restructure the business and strengthen the attraction of foreign investments thereby contributing to the restructuring of the state economy.

Hop said that in March, the ministry’s leader together with MobiFone and its membership facilities and related agencies will start to discus on the equitisation of MobiFone and finalise the privatisation in 2011

According to the business result report in 2010, the network operator gained over 36 trillion dong of revenue (accounting for 35 percent of the Vietnam Post and Telecommunication Group (VNPT)’s revenue) and 5.86 trillion dong of pre tax profit, state budget payment at 4.2 trillion dong.

So far, MobiFone has delayed the privatisation for at least two times. – Vneconomy

Tags: Mobifone