MobiFone Resurrects Talk of a Stock Market Listing
Published on: 8th Feb 2010
Note -- this news article is more than a year old.
Vietnam's MobiFone has reported a 52 percent rise in its full year revenues to VND27.4 trillion (USD1.5 billion) although pre tax profits fell by 3.4% to VND5.6 trillion (USD303 million). The company didn't report a net income figure.
The company ended last year with 24 million customers and is aiming to boost revenues to VND34 trillion this year.
The company has also confirmed plans to seek a listing on the local stock market and has hired Credit Suisse Group to manage the listing. The company has been valued at around USD2 billion. The government, which owns the company has been mulling a floatation since early 2005 though. Vietnam prefers to use the term "equitization" rather than privatization to signal that the government still plans to hold a majority stake in the firm.
During 2008, it was variously reported that several companies approached MobiFone seeking to become its strategic partner pending a floatation, including France Telecom, Vodafone, Singapore Telecommunications and ST Telemedia.