Public to hold one-third of MobiFone shares

MobiFone, the first mobile network of Vietnam, is speeding up its equitisation process, says Director Le Ngoc Minh.

Minh said equitisation procedures are underway to prepare for MobiFone’s IPO (initial public offering) this year.

He said the Vietnam Post and Telecommunications Group (VNPT) will hold one-third of MobiFone’s stocks, another one-third for strategic shareholders and the remaining one-third for the public.

It is forecast that MobiFone’s market share may rise by over 50% if the equitisation process is quickened and the firm takes advantage of mechanism changes caused by equitisation.

The equitisation of MobiFone has been eagerly awaited by investors, and the experiences to be gained from the process will be a good lesson for the equitisation of another telecom service provider, VinaPhone.

MobiFone plans to build more than 7,800 base transmitter stations this year, bringing the total number of transmitters to 13,700 by late 2008. The company also plans to have network coverage over 93% of the country by 2010.

VNN

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