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FPT to become partners with EVN Telecom   2010-10-29 - VNS

The Corporation for Financing and Promoting Technology (FPT) and its subsidiary FPT Telecom will become strategic partners with EVN Telecom.

A communication official from EVN Telecom confirmed the agreement with Viet Nam News, saying these two companies will hold more than 50 per cent stake in the company after EVN Telecom is equitised.

This acquisition follows the Government's approval of EVN Telecom selling stakes to domestic strategic partners.

A source said the FPT Corporation would invest about VND400 billion (US$20.5 million) into EVN Telecom.

Phan Duc Trung, FPT's deputy director, told that the corporation would spend more than VND400 billion because the partnership with EVN Telecom would help FPT develop a new business angle in the mobile telecom sector.

EVN Telecom is a Electricity of Viet Nam subsidiary. The company became operational in 2006 and is the seventh largest mobile telecom provider nationwide.

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