Vietnam to separate post and telecoms units

21 December 2012 |

State-owned telco Vietnam Posts and Telecommunications (VNPT) Group is reportedly set to fully separate its loss making postal services from its telecoms unit early next year.

The move is part of a reform of Vietnam’s state-owned enterprises, according to Reuters.

The new entity, Vietnam Post, gained partial accounting independence in 2008 and has made losses every year through 2010. VNPT will receive its final state subsidiary in cash next year.

The date for fully privatising VNPT is yet to be decided. The company is looking to issue its own shares to the public in 2015 rather than its operating companies MobiFone and Vinaphone which control a nearly 60% share of Vietnam’s mobile market.