VietNamNet Bridge – EVN Telecom is in the midst of finalizing the necessary formalities for equitisation this September.

EVN Telecom Deputy Director Vo Quang Lam stated that the firm has completed its asset assessment and other procedures for equitisation.

The firm will maintain state capital and sell shares to strategic investors, staff and outside investors. Shares will be sold to strategic investors in the form of negotiation. Foreign investors must meet EVN Telecom’s conditions of experience in telecom business and building 3G networks.

Two investors from Singapore and Malaysia have offered to become EVN Telecom’s strategic partner.

EVN Telecom is a CDMA technology-based mobile network, which offers E-Com, E-Phone and E-Mobile services. The firm has over 400,000 mobile and more than 4 million wireless fixed phone subscribers.

It launched a 3G network in June 2010 to become the fourth 3G network in Vietnam after VinaPhone, MobFone and Viettel.

If EVN Telecom completes equitisation in September, this will be the first equitised telecom firm.

Viettel and MobiFone were approved for equitisation several years ago, but they have not completed the process. The two companies have become one-member limited liability companies as of July 1, 2010.

PV