Vietnam’s largest listed telecoms and software company FPT Corporation has approved a plan to purchase additional shares in FPT Telecom from minority shareholders, to increase its ownership in the telecoms operator from its current stake of 42.51%. FPT Corporation said the shares would be purchased at VND52,000 (USD2.4) per share over one month from 8 August 2014. TeleGeography’s GlobalComms Database notes that FPT Telecom was established in 1997 as a subsidiary of FPT Corporation and was licensed as an internet service provider (ISP) and an internet exchange provider (IXP) in 2002. Today, the company is Vietnam’s second largest fixed broadband operator by customers, operating in 57 provinces and cities across the country. As at 30 June 2014 FPT Telecom had a total of 1.404 million retail broadband subscribers, giving it a market share of 26.1%.
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