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Vietnamobile raises charter capital

Released at: 16:05, 09/04/2016

Vietnamobile raises charter capital

PM approves increase to $1.248 billion.

by Luong Nhi

The Prime Minister has given the go-ahead to Vietnamobile increasing its charter capital to $1.248 billion.

He also approved a change in the investment contract for Vietnamobile between Hutchison Telecommunications Vietnam and Hanoi Telecom.

Vietnamobile is permitted to become a joint stock company under the approval, after previously being a business cooperation contract (BCC) between the two companies.

Vietnamobile has three shareholders: Hanoi Telecom with 50 per cent and Hutchison Telecommunications Vietnam with 49 per cent, while Ms. Trinh Minh Chau, General Director of Hanoi Telecom, holds 1 per cent.

The Prime Minister also asked the Ministry of Planning and Investment to process the contract to ensure the government’s benefit and the legitimate rights and benefits of investors. If there are any matters the ministry cannot solve it must report to the Prime Minister.

Vietnamobile’s market share is currently less than Viettel, MobiFone, Vinaphone, and Gmobile.

According to the Ministry of Information and Communications, in 2015 Vietnamobile had some 11 million subscribers in 2G and 3G.

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