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VNPT Global teams up with Singaporean partner
Singapore Technologies Telemedia (ST Telemedia) bought a 10 percent stake in VNPT Global Investment Joint Stock Company (VNPT Global) on March 11 to kick off their new partnership.
At the announcement ceremony for the investment cooperation deal the same day in Hanoi, VNPT Deputy General Director and Head of the VNPT Global’s Executive Council Lam Hoang Vinh presented an investment certificate to ST Telemedia.
With almost 20 years of experience, ST Telemedia is capable of making effective contributions to VNPT Global’s international business development strategy, Vinh said.
ST Telemedia, which holds stakes in many international telecom service providers, will become a bridge for VNPT Global to access markets in the Asia-Pacific and other emerging markets, he added.
Earlier in January 2010, ST Telemedia and VNPT Global, an affiliate of the Vietnam Post and Telecommunications Group (VNPT), signed an agreement to buy shares after nearly one year of negotiations.
The deal is expected to benefit both sides with the aim of investing in growing companies in the telecom sector around the world to increase the value of shares.
Set up in January 2008, VNPT Global boasts five affiliates in the US, Singapore, Hong Kong and the Czech Republic. They specialise in providing telecom services to overseas Vietnamese communities and customers worldwide.
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