Viettel Global increases capital to fund new overseas investment

Visual from Viettel Global's website

Viettel Global, the international investment unit of Vietnam’s military-run telecommunications group Viettel, is planning a VND10 trillion ($465.12 million) increase in its charter capital, to facilitate future investment in new foreign markets.

The company’s current registered capital is nearly VND12.44 trillion ($578.6 million), with the Viettel holding 97.58 per cent stake.

The company aims to scale up to reach 350 million people (an expansion by 226 million people) across the globe within three years and plans to fund this move by issuing one billion additional shares to its strategic shareholder Viettel, it said in a recent filing.

By 2017, Viettel Global hopes to double its targeted foreign markets to 16, which will create a requirement of VND47.46 trillion ($2.2 billion) in funding.

In late 2014, Viettel Global established a $1.8 billion joint venture in Myanmar. Then in March, Metfone, Viettel’s operational brand in Cambodia, announced that it was taking over Beeline Cambodia in a value-undisclosed deal.

On Monday, Viettel Global published on its website that Metfone has officially gained the assets and telecommunications license of Sotelco Ltd, the operator of Beeline Cambodia, on April 8.

Also read: Viettel Global to invest $800m in Myanmar

This has made Viettel the first Vietnamese company to acquire a foreign telecom operator. “Our investment in Beeline Cambodia is consistent with the group’s goal to become one of the world’s leading network operators by 2020,” said Viettel Global CEO Tao Duc Thang.

According to him, the company should have footholds in 20 different countries in the next five years.

Also read: Viettel’s Metfone takes over struggling Beeline Cambodia

Viettel, the parent group, is already present in 10 countries in Asia, Africa and Latin America. In 2014, its foreign subscribers hit 75 million people, contributing a revenue of $9.8 billion and profit of $2 billion.

Mobile industry data provider GSMA‘s Wireless Intelligence report evaluates Viettel as one of the world’s 15 leading companies in cellular connection.

Meanwhile, Viettel Global earned a profit before tax of VND3 trillion ($139.5 million) last year, a rise of 43 per cent year-on-year.

Related story:

Vietnam to commercially deploy 4G next year

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.