Reuters | January 27, 2011 | Ho Binh Minh
HANOI – Vietnam’s FPT Corp FPT.HM, a major company in the telecoms, software and technology sectors, and an affiliate are to acquire a 49 percent stake in a state-run telecoms company, the government said.
The state will retain 50.6 percent of EVN Telecom, a unit of state utility Vietnam Electricity, Deputy Prime Minister Nguyen Sinh Hung said in a directive signed on Wednesday.
Restructuring EVN Telecom is the first concrete step this year by the government as it seeks to revive the process of selling off parts of state-owned enterprises, which has stalled in the past four years.
The business results of EVN Telecom were not immediately available. The company specialises in providing Internet and telecoms services as well as work on telecoms and electrical projects.
FPT Corp and FPT Telecom would buy the 49 percent stake to become strategic investors in EVN Telecom, now capitalised at 2.96 trillion dong ($152 million), the directive said, without giving the value of the purchase.
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