Vietnam’s Ministry of Information and Communications has appointed Tran Manh Hung as the new CEO of state-owned telco VNPT.
Manh Hung, who has been with the company since 1981, previously served as deputy general director. He replaces Vu Tuan…
Vietnam’s Ministry of Information and Communications has appointed Tran Manh Hung as the new CEO of state-owned telco VNPT.
Manh Hung, who has been with the company since 1981, previously served as deputy general director. He replaces Vu Tuan Hung.
According to a press release on VNPT’s website, the appointment follows a meeting at the Prime Minister’s office regarding the telco’s restructuring plan.
In mid-April the communications ministry reportedly rejected a plan by VNPT to merge its two mobile subsidiaries, Vinaphone and MobiFone.
Minister Nguyen Bac Son was quoted as saying at the time that Vietnam must have at least three large telcos, namely Viettel, MobiFone and Vinaphone. Therefore, VNPT has been instructed to come up with another restructuring option.
Under a local decree effective from 1 June 2011, a company that owns 20% or more of a telecom operator is not allowed to hold more than 20% of another carrier in the same market.
A sale of either Vinaphone or MobiFone may therefore be the only solution available to VNPT.
