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Two Vietnamese Networks to Merge Under Government Plans
Published on:
Two of Vietnam's mobile networks, MobiFone and Vinaphone are to be merged by the government under an industry restructuring plan, the Ministry of Information and Communications has confirmed.
Although it is planning the merger, the Ministry still needs final approval from the Government.
Minister Nguyen Bac Son told an online conference that the merger was needed and was the best solution for the restructuring of the telecom industry in Vietnam.
The merger follows a decision last year that limited any company from owning more than 20% in multiple networks. Both VinaPhone and MobiFone are actually owned by the same company, the state-controlled Vietnam Post and Telecommunication Group (VNPT), so it had to either sell one network, or merge them.
The two networks collectively control around half the subscriber base, but rampant competition between the country's six mobile networks is hurting margins and led the government to impose restrictions on marketing campaigns and churn rates.
On the web: Viet Nam News
Tags: [mobifone] [vinaphone] [Vietnam]
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