By Dusan Belic
July 23, 2009
Vietnam has a new mobile phone network - Beeline. Operated by a joint venture between Russia’s VimpelCom and the local GTEL Corporation, the new company’s services will be available in the largest provinces of Vietnam - Hanoi, Ho Chi Minh City, Danang - with more than 15 million people. And by the end of this year, they hope to expand and offer services in more than 40 provinces, reaching the population of about 41 million.
Commenting on the announcement, VimpelCom’s Boris Nemsic said: “With the start of our operations in Vietnam we are strengthening our positions in South-East Asia. The Vietnamese telecom market has a great potential with a young and dynamic population of more than 86 million people and a fast growing economy. Our partnership with such a reliable and professional local partner as GTEL Corp helped us achieve the result we had planned.”
For the record, VimpelCom has a 40% share of the joint-venture, whereas GTEL, a Vietnamese state-owned enterprise and GTEL TSC have an equity interest of 51% and 9%, respectively. Earlier this year, VimpelCom commenced operations in Cambodia…