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31 Jan, 2011 20:02:51
Vietnam's FPT gets nod to buy EVN Telecom stake
Jan 31 HANOI - Software giant FPT and its subsidiary FPT TELECOM have received approval from the Vietnamese Government to buy a 49-per-cent stake in State-owned EVN TELECOM, an affiliate of ELECTRICITY OF VIETNAM, in what may be the beginning of a wave of mergers or consolidations among smaller mobile service providers.
EVN Telecom will negotiate the price directly with FPT and FPT Telecom.

After the deal is consumated, the State will continue to own a controlling interest of 50.6 per cent of EVN Telecom.

EVN Telecom executives will be able to purchase shares representing 0.4 per cent of equity in the firm,at a price equal to 60 per cent of the price paid by FPT Telecom. (Asia Pulse)
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