Credit Suisse values MobiFone at USD2 billion

13 Jan 2009

Vietnamese cellco MobiFone has been valued by Credit Suisse at around USD2 billion, according to Vietnam.Net Bridge. As a result of the current economic crisis, MobiFone General Director Le Ngoc Minh said the valuation is about USD1 billion lower than it would have been under normal circumstances. MobiFone is placed second in the country’s wireless market; in September 2008 it had a wireless subscriber base of 15 million. Following the valuation, MobiFone declared itself ready for a planned initial public offering (IPO), scheduled for later this year.

Vietnam, MobiFone Telecommunications Corporation