www.WirelessFederation.com/news: 52 % year-on-year rise in revenue in the year ended December 31, 2009, has been reported by Vietnam’s second largest wireless operator by subscribers, MobiFone, reaching VND27.4 trillion (USD1.48 billion).

However, pre-tax profit of the company fell 3.4% compared to 2008 to VND5.6 trillion. The net income of the company is not yet declared. The company is targeting revenue of VND34 trillion in 2010. According to the MobiFone, it is quickly preparing for the privatization process this year in an attempt to improve competitiveness.

It was revealed in 2008 that that in an initial public offering (IPO), 15% tranche would be sold to a strategic investor and 15% to the public. Even after IPO, 19% of the stake might also be sold reducing state-owned Vietnam Posts and Telecommunications’ (VNPT’s) stake to 51%.