MobiFone to offer lightning service

HA NOI — MobiFone has announced it’s using new technology that will allow users to access the internet at four times the current rate.
The mobile phone company said they are boosting their GPRS data network with Enhanced Data Rates for Global Evolution (EDGE) technology, a first for Viet Nam, which will deliver throughput speeds on the network at the speed of ADSL.
But the new-improved speed will depend on several factors, including network changes, traffic volume, service outages and the weather.
MobiFone’s general director Le Ngoc Minh said the new technology would help the company attract more subscribers, especially high-income users who can afford EDGE-enabled mobile devices.
MobiFone, a subsidiary of the Viet Nam Post and Telecommunications Group (VNPT), has set its revenue target for 2007 at US$1 billion, becoming the most profitable mobile operator in Viet Nam.
Earlier the Ha Noi based firm short listed six international financial firms, Credit Suisse, Deutsche Bank, Goldman Sachs, Morgan Stanley, Rothschild and UBS, to take part in bidding to advise MobiFone through its equitisation process, which will include listing shares some time next year.
An initial public offering has been slated to take place early 2008 with VNPT maintaining a one-third stake in the company. Strategic investors would hold another third with the remaining shares sold to the public.
Vodafone, BT, Singtel and Telenor have also voiced interest in claiming MobiFone shares and forming a strategic partnership with the Vietnamese mobile service provider.
MobiFone currently has over 10 million subscribers, representing around 30 per cent of the market. Its main rivals are the military-run Viettel, currently the market leader, and State-run Vinaphone, which is also controlled by VNPT.
Source: vnagency.com.vn