Vietnam Mobile Telecom Services (more commonly known as MobiFone), the country’s second largest mobile operator by subscribers, made a profit of VND6 trillion (USD280 million) last year, and is valued at between USD2 billion and USD3 billion, Reuters cites a report from Dau Tu (Investment) newspaper as saying. The Vietnamese government plans to approve the privatisation of MobiFone by the end of the year; the operator will first be hived off from state-owned parent Vietnam Posts and Telecommunications (VNPT) before its shares are then sold in an initial public offering (IPO). National PTO VNPT, which also owns the mobile market’s third largest player Vinaphone, has been ordered to restructure its operations to increase competition in the telecoms market.
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