Singapore Telecommunications Ltd (Singtel) has expressed an interest in entering into a strategic partnership with Vietnam’s MobiFone, the Ministry of Information and Communications (MIC) has announced. Oliver Foo, Singtel’s vice president for business development, met with Pham Hong Hai, the deputy minister of information and cCommunications, in Hanoi on Friday to discuss possible investment scenarios, with the latter commenting: ‘If Singtel wants to invest in MobiFone, it is necessary for Singtel to work with MobiFone to grasp its equitisation situation [the process of how tangible assets are divided among several investors and placed into publicly traded stock]. Then, MobiFone will report to the MIC on working results.’
As previously reported by TeleGeography’s CommsUpdate, last week Singtel unveiled deals for Temasek Holding’s 7.39% stake in India’s Bharti Telecom, alongside the acquisition of a separate 21% stake in Thai telecom firm Intouch Holdings PCL (the biggest shareholder in Thailand’s largest mobile operator Advanced Info Services Public Company [AIS]). The Thai stake was valued at USD1.19 billion, while the Bharti shares were priced at USD659 million.