Leading operator Viettel, which is controlled by the Vietnamese Ministry of Defence, is reportedly close to acquiring struggling competitor EVN Telecom, owned by Electricity of Vietnam.
According to local newspaper Saigon Tiep Thi citing a Viettel…
Leading operator Viettel, which is controlled by the Vietnamese Ministry of Defence, is reportedly close to acquiring struggling competitor EVN Telecom, owned by Electricity of Vietnam.
According to local newspaper Saigon Tiep Thi citing a Viettel executive, the company received the green light from the government and a deal could be signed as early as January 2012.
The Vietnamese mobile market is currently overcrowded, with seven mobile operators for 87 million customers (see feature in TelecomFinance magazine 195).
As a result some of the companies, most of which are state-controlled, are struggling to survive, partly because of generally low tariffs.
But consolidation rumours have been circulating for a few months now. However, merger initiatives are heavily dependent on the government.
Viettel was not immediately available for comment before the press deadline.
