Viettel completes negotiations to launch in Laos, Cambodia

21 Aug 2007

Vietnam’s military-owned mobile network operator Viettel says it has completed negotiations to become a founder shareholder in two Cambodian businesses, as well as agreeing terms to set up a joint stock operation to provide telecoms services in Laos. Viettel says it will invest USD1.2 million and USD7.5 million respectively in Cambodia’s Vietnam-Cambodia Joint Stock Bank and hydroelectric plant constructor EVN-Cambodia. It has also completed talks with Laos Asia to contribute 49% of the company’s charter capital to help it deliver telecoms services in the region. In 2006, Viettel established a wholly owned subsidiary, Viettel Cambodia, to look after its interests in the country.