MIC ownership decree to take effect on 31 August

24 Jul 2012

A new government decree, which bans a company or individual from holding over 20% in more than one telecoms firm operating in the same market, will take effect on 31 August 2012, reports Viet Nam News. The introduction of the Ministry of Information and Communications’ (MIC’s) Circular No 10/2012/TT-BTTTT, which aims to reduce unfair competition in the telecoms market, means that state-run national PTO Vietnam Posts and Telecommunications Group (VNPT) will be forced to choose between merging its two wholly-owned mobile network operators Vinaphone or MobiFone, or selling the majority of its shares in one of the companies.