VNPT workers installing new internet cables in a rural area. (Photo: thongtincongnghe.com) Hanoi (VNA) - Deputy Prime Minister Vuong Dinh Hue recently urgedthe Vietnam Posts and Telecommunications Group (VNPT) to speed up itsdivestment process in its listed member companies.
The Deputy PM has assigned the Ministry of Finance to study a proposal putforth by the Ministry of Information and Communications (MIC) on the divestmentof the P&T Hotel Joint Stock Company.
He said the proposal was based on the 91/2015/NĐ-CP Decree on October 13, 2015,concerning the Government’s control over the funding of businesses and theirmanagement in the context of divestment.
The MIC has instructed VNPT to refer to the decree and proceed with thedivestment procedure for the P&T Hotel JSC, in accordance with the laws andthe Government interests.
Furthermore, VNPT will continue to divest from the Quang Nam TransportationConstruction Joint Stock Company (QTC), Hacisco Joint Stock Company (HAS) andLow Current - Telecom Joint Stock Company (LTC), according to the currentregulations.
In case, using a different method for the divestment process will prove to bemore efficient than the current method, the MIC will be responsible for comparisonand assessment before reporting to the Government.
Previously, according to VNPT’s financial report, by the end of 2016, thecompany had divested 602 billion VND (27 million USD) over their total 2trillion VND by the books. Their total earning was 1.04 trillion VND (46.7million USD), equal to 174 percent of VNPT’s total investment.
The company continues to divest from 16 divisions using the agglomerationmethod and from 36 other divisions using the direct method.
However, according to VNPT, the divestment from some of these companies hasproved to be quite difficult with many unsuccessful public offerings of thesaid companies’ shares.-VNA
The Deputy PM has assigned the Ministry of Finance to study a proposal putforth by the Ministry of Information and Communications (MIC) on the divestmentof the P&T Hotel Joint Stock Company.
He said the proposal was based on the 91/2015/NĐ-CP Decree on October 13, 2015,concerning the Government’s control over the funding of businesses and theirmanagement in the context of divestment.
The MIC has instructed VNPT to refer to the decree and proceed with thedivestment procedure for the P&T Hotel JSC, in accordance with the laws andthe Government interests.
Furthermore, VNPT will continue to divest from the Quang Nam TransportationConstruction Joint Stock Company (QTC), Hacisco Joint Stock Company (HAS) andLow Current - Telecom Joint Stock Company (LTC), according to the currentregulations.
In case, using a different method for the divestment process will prove to bemore efficient than the current method, the MIC will be responsible for comparisonand assessment before reporting to the Government.
Previously, according to VNPT’s financial report, by the end of 2016, thecompany had divested 602 billion VND (27 million USD) over their total 2trillion VND by the books. Their total earning was 1.04 trillion VND (46.7million USD), equal to 174 percent of VNPT’s total investment.
The company continues to divest from 16 divisions using the agglomerationmethod and from 36 other divisions using the direct method.
However, according to VNPT, the divestment from some of these companies hasproved to be quite difficult with many unsuccessful public offerings of thesaid companies’ shares.-VNA
VNA
