Vietnam’s State-Owned Vinaphone And MobiFone Set To Merge In Response To New Government Regulation

Posted on Mar 20 2012 - 7:27am by Editorial Staff

Vietnam’s state-owned operators – Vinaphone and MobiFone are to merge in response to new government regulation that limits the influence of investors in the country’s telecom space. The merger still awaits approval of Prime Minister Nguyen Tan Dung while already approved by the country’s Ministry of Information and Communications, reports Reuters.

Vietnam had 134.2 million phone users at the end of February, up 3.6 percent from a year earlier, of which mobile phone users grew 4.3 percent from a year earlier to 119 million, government statistics says. Net revenue from the post and telecoms sectors at the end of last month jumped 21.4 percent from a year earlier to 22.1 trillion dong ($1.06 billion), following annual revenue growth of 19.3 percent in 2011 to $8.03 billion, the government states.

(Credit: Image Source)

About the Author

Editorial Staff at I2Mag is a team of subject experts.