Sotelco agrees to transfer licences, customers to Viettel

Cambodian mobile operator Sotelco, which provides services under the Beeline brand, has entered into an agreement to transfer certain licences and assets to market leader Viettel Cambodia (operating as Metfone) for an undisclosed amount. Under the transaction, which has already been approved by the relevant authorities, Sotelco will cease to provide mobile services and will terminate contracts with its existing subscribers. From 24 March 2015 the cellco’s customers will be transferred to Metfone’s network, but will retain their existing phone number, SIM card and core account balance. TeleGeography’s GlobalComms Database states international telecoms group Vimpelcom acquired a 90% stake in Sotelco for USD28 million in July 2008, but the firm sold its entire stake to existing shareholder Huot Vanthan in April 2013, raising his ownership to 100%. Metfone, meanwhile, is controlled by Vietnamese telecoms giant Viettel Group.