Vietnam’s mobile service provider Viettel to be partially privatized

Vietnam’s mobile service provider Viettel to be partially privatized

Viettel is the Vietnam’s third largest mobile phone company and is currently owned by the country’s military. However, now the government has plans to turn parts of the company to private parties.

The Vietnam Military Electronics and Telecommunications Company had recently received an acceptance letter for the deal from the government for this process. However, nothing has been released officially by the concerned parties.

Vietnam’s military is planning to keep 51 percent of the company to retain control of the company. Viettel provides mobile services to around 2.3 million users. The mobile market in the country is basically dominated by four players namely Vinaphone, MobiFone, Telecommunications Corp, and S-fone.

Vinaphone and MobiFone also have plans to diversify with privatization of some of the assets of the company.