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Vietnam Again Looks at Privatizing MobiFone

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Vietnam's government is looking to part privatize the country's second largest mobile network operator, MobiFone, according to local media reports.

The government owns 100% of the company, and will submit plans to float a portion of the operator on the stock exchange shortly, according to reports citing Minister Nguyen Bac Son.

Son said that the sale is expected to raise around USD887 million, although he did not say what percentage of the company would be sold to raise that amount.

The government has been looking to sell a stake in the mobile network for around a decade, but sales may have been delayed due to the fact that the company is said to be highly profitable.

It has a market share of around 18 percent, but lags behind the military controlled Viettel which has over half the market for mobile phones.

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Tags: mobifone  Vietnam