The Vietnamese government has reportedly approved a proposed merger of Vinaphone and VNPT-Media into their parent company, VNPT, to streamline group operations and enhance efficiency.
According to the official Vietnam News Service, the merger – which was proposed by the Ministry of Finance and approved on June 25 – is expected to consolidate Vinaphone’s strengths with VNPT-Media's expertise in digital content and multimedia services.
VNPT expects the merger with its two subsidiaries to not only expand its digital transformation initiatives and enable better digital service delivery, but also “create a leaner organisational structure” and “ensure effective capital utilisation, particularly in light of State investment”, the report said.
VNPT-Media – which was created in 2015 following a restructure of VNPT’s various entities – focuses on digital content development and value-added services, to include digital payments.
Vinaphone, which has been VNPT’s mobile arm since its creation in 1996, had close to 30 million mobile subscribers and over 8 million fixed broadband customers by early 2024, according to VNS.
