MIC approves MobiFone’s restructuring plan

7 Nov 2017

Vietnam’s Ministry of Information and Communications (MIC) has approved the restructuring plan of state-owned MobiFone, the country’s second largest wireless operator by subscribers. VietNam Finance reports that the proposal was approved by MIC Decision No. 1799/QD-BTTTT of 20 October 2017, paving the way for a portion of MobiFone’s shares to be sold in a process known as ‘equitisation’. Until July 2014 MobiFone was a wholly owned subsidiary of state-run national PTO Vietnam Posts and Telecommunications Group (VNPT), but at that date the cellco was spun off and put under the management of the MIC as part of efforts to restructure state-run businesses. Earlier this year MobiFone and VNPT were directed by the MIC to complete their equitisation in 2018 and 2019, respectively.

Vietnam, Ministry of Information and Communications (MIC), MobiFone Telecommunications Corporation