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Vietnam to merge VNPT Global and MobiFone
01 February 2012
VNPT unit will be merged into MobiFone to boost overseas investment opportunities, says CEO
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Vietnam Posts and Telecommunications Group’s VNPT Global unit is to be merged into MobiFone, said Vu Tuan Hung, general director — the CEO — of VNPT. According to Viet Nam News, Hung said that such a move will enhance resources for planned overseas investment in the future.
He said that MobiFone has become VNPT’s largest company and that it achieved a profit of $296 million last year.
MobiFone already has overseas investment plans to make it one of the top ten operators in the Asian market. The operator had been struggling with these plans, and the merger would help pursue them, said the company’s general director, Mai Van Binh, according to Viet Nam News.
VNPT Global, the stakeholders of which include VNPT, MobiFone and VNPost, will focus on investment in mobile communications across Asia after the merger, according to its general director, Vu Phi Long. The company’s previous overseas investments included those in the internet and VoIP service sectors. GTB
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