MoIC affirms equitization will be transparent and completed in a proper manner.
The equitization of MobiFone is not just a task for the company but also a central task of the Ministry of Information and Communications (MoIC), Minister Nguyen Bac Son told a conference on the mobile carrier’s plans for the second half of year on July 15.
Much attention has been paid to the equitization by the government and potential foreign partners because MobiFone has a very good brand name, a large market share, and professional performance. For this reason it equitization must be transparent and not simply completed at any cost, Minister Son emphasized.
Resolution No. 95 was introduced recently, providing guidance on the conduct of the equitization. Speed is not the issue, the Minister said. The equitization must be done in a manner that bolsters MobiFone’s development.
According to the General Director of MobiFone, Mr. Cao Duy Hai, the company has been active in preparing for the equitization and completing tasks on schedule. The valuation is to be completed this year and then strategic partners sought.
Many foreign investors have their eyes on MobiFone but are concerned over whether the government will retain a majority shareholding.