Vietnamese Operator looking for outside Investor

On 11.22.10, In Mobile, By Editor

­Vietnam’s Saigon Post and Telecommunications Corporation (Saigon Postel) is looking for investors to help develop its CDMA based mobile network subsidiary, S-Fone. The company is looking to sell 20%-30% stake to potential investors.

S-Fone is a joint venture between Saigon Postel (80%) and South Korea’s SK Telecom (20%).

According to Ho Hong Son, Saigon Postel’s general director, the scheme of changing the form of the company’s investment into a joint venture was approved by the Government. The company would buy back SK Telecom’s 20% stake in the next two years.

As per Son, during this period, Saigon Postel also planned to seek new investors and sell 20-30% of its stake to investors who are financially strong and well-managed. Vietnam law allows foreigners to buy stakes of up to 49% in privatized firms.

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Saigon Postel to operate S-Fone after SK Telecom’s withdrawal (Vietnam)

On 04.12.10, In Mobile, By Editor

www.WirelessFederation.com/news: Saigon Postel will operate Vietnamese mobile operator S-Fone from the middle of this year after the withdrawal of the Korean partner SK Telecom. The business cooperation contract has been changed into joint venture operation by SK Telecom and Saigon Postel.

According to managing director Ho Hong Son, SK Telecom will be a shareholder in the new JV after the proposed change and Saigon Postel will manage the network.

Before 2011, the Korean partner will only hold a minority stake in the JV and capital invested by SK Telecom will be returned by Saigon Postel.

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Further investments in Vietnam cancelled by SK Telecom

On 01.05.10, In Mobile, By Editor

www.WirelessFederation.com/news: Low profit and low subscriber growth made ¬South Korea’s SK Telecom to cease investing in its Vietnamese subsidiary. However, the company’s S-Fone partnership with Saigon Post andTelecommunication Corporation (SPT) will remain intact but S-Fone’s plans to deploy a 3G network will be endangered by the move.

An agreement to convert the cooperation into a formal joint venture is reported to be linked to the decision. This will be followed by selling a stake to South Korea-based private equity fund, Rutter Associates. With around 2.5 million customers by the end of last September, the operator has a market share of just 2.5%.

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SK Telecom, Samsung in handset tie-up

On 12.18.06, In Mobile, By Editor

South Korean carrier SK Telecom and Samsung Electronics have established a strategic alliance promising mutual cooperation in the domestic and overseas markets. Under the partnership, Samsung Electronics, which has already supplied the Drift handset to Helio, will release additional Samsung mobile phones to SK Telecom’s mobile operation in the US in 2007. It will also be introducing Samsung mobile phones through SK Telecom’s S-fone in Vietnam.The two companies have further decided to cooperate in diverse areas in the domestic market next year, such as on satellite DMB phones. They agreed on supplying 3 million units of approximately twenty models domestically and overseas next year.

 

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