VNPT is one of 18 State-owned enterprises (SOEs) tasked to equitise this year. — Photo zing.vn
The Viet Nam Posts and Telecommunications Group (VNPT), the country’s largest telecom operator, will hire five consultants for its planned equitisation project.
VNPT is one of 18 State-owned enterprises (SOEs) tasked to equitise this year.
The advisors include well known and prestigious foreign consulting companies famed for their skills assisting with mergers and acquisitions (M&A), such as KPMG, Deloitte and Ernst and Young, a source from VNPT told business site vneconomy.vn.
Interested companies will bid to become consultants for VNPT in the project. VNPT Group is preparing necessary dossiers to submit to the Committee for Management of State Capital at Enterprises (CMSC).
The world’s top consultants have great experience in privatisation consulting and large networks with many global investors and can concentrate on VNPT’s equitisation campaign, the source said.
“International consultants are very good at building equitisation plans, inviting strategic investors, selling prices and selling time,” added the source.
“They can also partner with domestic consulting companies because local consultants have a lot of experience in land identification, assets and inventory.”
At present, there are many missions ahead in VNPT’s equitisation plans, including evaluating the firm’s value, selecting strategic partners, organising roadshows, and listing VNPT’s shares on the stock exchange.
VNPT currently owns numerous of land plots in 63 provinces and cities across the country. This alone means a huge amount of work.
Slow preparation, complexities in evaluating assets, as well as difficulties in completing procedures are hindering VNPT from staying on schedule.
According to the report of production and business plan in 2019 announced by VNPT at the end of March, this group aims to earn consolidated revenue of VND56.8 trillion, pre-tax profit of VND7.1 trillion. It plans to pay more than VND4.9 trillion in tax to the State budget.
In 2019, total investment capital is estimated to stand at VND12.2 trillion.
Previously, in 2018, VNPT achieved consolidated revenue of more than VND55.7 trillion. Pre-tax profit reached VND6.5 trillion, exceeding by 9.4 per cent of the year’s plan and 25 per cent higher than 2017. – VNS
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