Vietnamese military-run mobile operator Viettel has arranged to acquire Beeline Cambodia, marking the first acquisition of an active foreign operator by a Vietnamese company.
As part of the deal, Viettel will acquire Beeline's assets and telecom licenses including its 2G, 3G and 4G licenses.
Beeline Cambodia, trading as Sotelco Ltd, offers mobile services in 24 provinces. The company also offers a range of value added services including mobile internet, private number, call waiting, SMS chat and roaming services.
The acquisition will give Viettel's Cambodian subsidiary Metfone a more than 50% share of the local mobile market, as well as mobile internet coverage of more than 96% of the nation.
"Our investment in Beeline Cambodia perfectly aligns with our global vision and growth plan, which is to become a leading telecom company by 2020,” Viettel Global general director Tao Duc Thang said.
Viettel has invested in 10 markets over the last 10 years, and today has over 260 million customers in Asia, South America and Africa.
The company has a presence in Vietnam, Cambodia, Laos, Timor-Leste, Haiti, Mozambique, Peru and Cameroon, and plans to launch in Burundi and Tanzania later this year.