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Viettel pours over $400 mln into Mozambique
The military-run Viettel Group on May 16 officially opened a mobile phone network named Movitel in Mozambique with an initial capitalization of more than $400 million.
The new mobile phone network was licensed by the Government of Mozambique on January 10, 2011.
Movitel now has 1,862 transmitting stations to cover all districts in the Southern African country. By the end of the year, it will increase the number of transmitting stations to 2,200.
It is the first foreign company that is committed to providing a free internet network for 4,200 schools across Mozambique.
Previously, Viettel had invested in the mobile phone networks in Cambodia, Laos and Haiti. Last year, it earned $255 million in revenue from Cambodia and $110 million from Laos.
Currently, the number of Viettel’s subscribers around the world is 60 million. The group’s turnover in 2011 reached nearly $6 billion.
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