Viettel Global, the international investment arm of Vietnam’s military-run telecommunications group Viettel, is planning a VND10 trillion (USD456.9 million) increase in its charter capital, to facilitate future investment in new foreign markets. Citing a recent company filing, Deal Street Asia claims that Viettel Global intends to issue one billion additional shares to Viettel Group to fund the capital increase. The financial website notes that Viettel Global’s current registered capital is nearly VND12.4 trillion, with Viettel Group holding a 97.58% stake in the unit.
Viettel currently boasts a presence in Vietnam, Cambodia, Laos, Timor-Leste, Cameroon, Mozambique, Haiti and Peru, and expects to be operational in 16 markets by 2017. It also recently announced the closure of its takeover of Sotelco Ltd (Beeline Cambodia) on (8 April, with Tao Duc Thang, director general of Viettel Global, noting: ‘We are constantly looking for further investment opportunities with telecom operators in any part of the world and we’ve set ourselves a target of investing in 20 countries by 2020.’ The official added that Viettel expects to stage commercial launches in Burundi and Tanzania ‘later this year’.