Singtel interested in MobiFone privatization

23 Aug 2016
Daily News

Singtel has joined the ranks of operators interested in becoming the strategic partner of Vietnamese operator MobiFone.

Singtel's VP for business development Oliver Foo met with deputy ICT minister Pham Hong Hai recently to discuss a possible investment in the venture, Thanh Nien Newsreported.

The Vietnamese government plans to privatize the currently state-owned operator MobiFone, and is seeking a foreign operator interested in participating in the privatization. Companies including Norway's Telenor, Sweden's Comviq and Australia's Telstra have previously expressed an interest.

Now Singtel has also indicated it may want to participate in the opening up of the operator to private investors.

MobiFone has an estimated brand value of $539 million. The company jointly controls the majority of Vietnam's telecoms market together with fellow state-owned operator VinaPhone and military-run Viettel.

But the government has not yet announced its plans for the privatization of MobiFone.

MobiFone recently contracted Ciena to build a 300Gbps backbone network spanning more than 1,400km across the country.

Singtel has meanwhile been expanding its regional operations, having recently announced plans to indirectly increase its stakes in Thai mobile operator AIS and India's Bharti Airtel.

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