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Viettel to swallow up EVN Telecom
Viettel is to take over capital-starved EVN Telecom from January 1, 2012.
“Take-over procedures in terms of capital, human resources and technology aspects are rolled up. The work will be finalised within one month for the new apparatus operation to start-up from January 1, 2012,” according to a Viettel executive.
He said Viettel would takeover EVN Telecom’s entire assets including land, workplace, technology and telecom machinery and equipment. As for human resources, Viettel will only accept those currently directly worked at the telco.
“The hand-over will take place quickly. We follow concrete plans and report each activity to management authorities,” said the Viettel executive.
Regarding the 3G licence jointly exploited by EVN Telecom and mobile operator Vietnamobile, Viettel would take over the telco’s share and latter negotiate with Vietnamobile about remedial actions.
EVN Telecom is Vietnam’s sixth mobile service provider taking ownership of 096 initial numbers and the low frequency 450MHZ ban which is vulnerable to disturbances. Hence, after seven years coming online, the telco is now in dire straits with low subscriber numbers and poor revenue figures.
EVN Telecom has become a debtor to many partners including Viettel and Vietnam’s largest telecom operator VNPT.
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