|
MobiFone valued at 2 billion USD
According to Credit Suisse, MobiFone’s equitisation consulter, this mobile network’s value is estimated at approximately $2 billion. The detailed equitisation plan for MobiFone is now under compilation.
MobiFone’s General Director, Le Ngoc Minh, said the economic crisis and the current fall of the stock market can influence the evaluation.
He said the time for evaluating MobiFone’s value was in 2008, when the world economy sank into economic crisis. Under normal conditions, when MobiFone’s competitive advantages are not included, the firm’s value may be at least $3 billion.
By the end of 2008, MobiFone had 31 million subscribers. The number of new subscribers in 2008 is equivalent to the total number of the past 14 years. The network’s revenue in 2008 reached VND 17.5 trillion, profit VND 5.8 trillion, and tax payment VND 3.5 trillion.
Minh said at a value of $2 billion, investment in this firm will yield a profit of approximately 17% per year.
“At the current banking interest rates of less than 8% a year, investment in MobiFone is a considerable opportunity,” he added.
MobiFone plans to complete its initial public offering (IPO) in 2009. “There will have no cancellation though the stock market is sliding. We are ready for it,” Minh stated.
VNE
|
