Tuesday, May 29, 2007

VNPT may invest in Cuba

VNPT may invest in Cuba
11:44' 29/05/2007 (GMT+7)

VietNamNet Bridge – Millicom, a subsidiary of Sweden's Kinnevik group,
wants to cooperate with the Vietnam Post and Telecommunications Group
(VNPT) to establish the International MobiFone Company to invest in Cuba.

This company will exist in parallel with the current VMS – MobiFone
company. This idea was suggested by Chief Executive Officer of Millicom,
Marc Beuls, at his meeting with Minister of Post and Telematics Do Trung
Ta on May 25.

Mr Marc Beuls expressed the willingness to provide solutions to manage
pre-paid mobile phone subscribers that his company has applied in
Senegan under the request of Minster Do Trung Ta.

If this idea is approved, MobiFone will be the second mobile phone
network in Vietnam going abroad. Previously, Viettel Mobile was licenced
to provide mobile phone services and some other telecom services like
fixed phone and Internet in Laos and Cambodia.

Millicom specialises in telecom business with turnover of US$1.6 billion
in 2006. The company expects to earn around $2.6 billion of revenue with
a growth rate of 99% this year.

(Source: VNE)

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