Telecom giant Viettel to sell 6 percent stake in Viettel Post
Military-run telecom giant Viettel plans to divest a 6 percent stake in its affiliate Viettel Post Joint Stock Corporation (VTP) via a public auction at the Hanoi Stock Exchange in November.
Hanoi (VNS/VNA) — Military-run telecom giant Viettel plans to diꦚvesta 6 percent stake in its affiliate Viettel Post Joint Stock Corporation (VTP)via a public auction at the Hanoi Stock Exchange in November.
The information was announcedby Viettel Post during a meeting with analysts late last week, VietnamBiz reported. At the event, representativesfrom some investment funds said the 6 percent divestment was much lower thanthe expected 16 percent announced earlier. According to Viettel, thedivestment will be carried out following the group’s roadmap to ensure thebenefits of investors. The next divestment roadmap will be implemented in thenew restructuring period of Viettel, between 2021 and 2025. A Viettel representativerevealed the group plans to list VTP shares on Ho Chi Minh City Stock Exchangeto ensure better liquidity of the shares. The share listing on Vietnam’s mainexchange is expected to be conducted in 2021 – 2025. Earlier, Viettel announced itwould divest from three of its member units listed on the stock marketincluding Viettel Post Joint Stock Corporation (VTP), Viettel ConstructionJoint Stock Corporation (CTR) and Viettel Consultant and Design Joint StockCompany (VTK). Currently, Viettel owns 68.08percent of the charter capital of Viettel Post, 63.12 percent capital in ViettelConstruction and 68 percent equity of Viettel Consultant and Design./.
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Illustrative image (Source: Viettel Post) 
