NTT DoCoMo prepared to bid a billion for MobiFone

13 Nov 2007

Japan’s biggest mobile phone operator by subscribers, NTT DoCoMo, has revealed that it expects to bid at least USD1 billion for a 30% stake in Vietnamese operator MobiFone. State-owned MobiFone, the country’s second-largest cellco, is planning an initial public offering in 2008 and is looking to sell a one-third stake as part of a privatisation plan. Other companies known to be keen to invest include France Telecom and Singapore Telecommunications. NTT DoCoMo’s senior Vice President Toshinari Kunieda told reporters at the Mobile Asia Conference in Macau, ‘We have a chance to participate in the auction process. We expect to spend USD1 billion for a 30% stake,’ adding that the bid could well exceed that at auction.

Vietnam, MobiFone Telecommunications Corporation, NTT DOCOMO