Vietnam plans to sell off VNPT, MobiFone stakes by end-2020

19 Aug 2019

The government of Vietnam plans to initiate the privatisation of 93 state-owned companies, including Vietnam Posts and Telecommunications Group (VNPT) and MobiFone Telecommunications Corporation, by the end of 2020. Reuters reports that the government said it will sell up to 50% stakes in wireless operator MobiFone and telecoms group VNPT, which owns fixed and mobile operator VNPT-Vinaphone.

TeleGeography’s GlobalComms Database notes that the two companies have been earmarked for privatisation (also known locally as ‘equitisation’) for a number of years, and have both undergone restructuring as part of government efforts to reorganise state-owned companies to improve competition and efficiency. MobiFone was a wholly owned subsidiary of VNPT until July 2014, at which date the cellco was spun off and put under the management of the Ministry of Information and Communications (MIC). In November 2018 the management of both MobiFone and VNPT was transferred from the MIC to the Committee for the Management of State Capital (CMSC), ahead of their upcoming privatisation.

Vietnam, MobiFone Telecommunications Corporation, VNPT-Vinaphone