The state-owned Vietnam Posts and Telecommunications Corporation (VNPT) will submit a detailed equitisation plan for MobiFone, its mobile telephone network provider, to the Ministry of Post and Telematics this September. MobiFone is owned by the Vietnam Mobile Telecommunications Services Company (VMS), a subsidiary of VNPT. The government will retain 51 per cent stake in MobiFone following the company’s conversion to shareholding status, with the remaining 49 per cent ?? currently held by Comvik and the Norwegian company Telenor ?? being sold to the public. VMS and Comvik International Vietnam AB have collectively invested more than $456 million in the MobiFone network. The equitisation will allow the company to raise funds from different domestic and foreign sources to expand operations. MobiFone plans to invest $145 million this year to improve the capacity of its network.
