Vietnam's S-Fone plans to raise investment capital

20 Mar 2007

(Thai Press Reports via NewsEdge) Investors of Vietnamese CDMA operator S-Fone mobile network plan to increase their investment capital to $543 million.

S-Fone Network's investors, Sai Gon Telecom Service Joint Stock Company (Sai Gon Postel) and the Korean SLD Group announced that they have informed Vietnam's Ministry of Post and Telematics of their decision.

Sai Gon Postel and SLD also plan to lengthen their business cooperation contract by a further seven years.

If the Ministry of Post and Telematics approves their proposal the contract will last until 2023.

SLD president So Jin Woo said SLD was also considering a proposal to enter into a joint venture with Sai Gon Postel, which will be submitted to the Government for approval within the next two weeks.

S-Fone was established in July 2003 as a $230 million venture between Sai Gon Postel and the SLD Group, a joint venture between SK Telecom, LG Electronics and Dong Ah Elecomn.

© 2007 Thai Press Reports

© 2007 Dialog, a Thomson business. All rights reserved

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