VNPT to spin off postal business from telecoms unit

21 Dec 2012

State-run national PTO Vietnam Posts and Telecommunications (VNPT) will separate its postal service from its operations early next year in order to focus on its telecoms business, reports Reuters. The new entity, known as Vietnam Post, gained partial accounting independence from VNPT in 2008, but has made losses every year through 2010. It expects its 2013 gross profit to rise 7% from this year to VND45.5 billion (USD2.2 million).

In other news, VNPT wireless subsidiary MobiFone has joined the Bridge Alliance, enabling its customers to benefit from wider geographical reach within the countries of the Asia Pacific mobile alliance’s members. With MobiFone joining the alliance as its twelfth member, the group’s combined customer base will now exceed 470 million mobile subscribers, reinforcing its position as the largest regional mobile partnership. ‘We are delighted to be part of the largest alliance of top-class mobile operators in Asia Pacific,’ said Mai Van Binh, MobiFone CEO, adding: ‘Being a member of the Bridge Alliance re-emphasises our vision to constantly innovate and offer our customers with more attractive multi-country enterprise and roaming products and services. Additionally, the alliance will provide us with an excellent platform to exchange expertise and best practices with other operators in the Asian region.’