PHNOM PENH, Cambodia, April 8, 2015 /PRNewswire/ -- Viettel (Cambodia) Pte. Ltd. (Metfone) announced that it has reached an agreement for the purchase of Sotelco Ltd. (Beeline Cambodia) assets and telecom licenses including but not limited to its 2G, 3G and 4G frequency licenses. This milestone deal, the first time a Vietnamese company has acquired an active telecom operator overseas, is part of the global expansion strategy that the company is embarking on.
"Our investment in Beeline Cambodia perfectly aligns with our global vision and growth plan, which is to become a leading telecom company by 2020. We are constantly looking for further investment opportunities with telecom operators in any part of the world and we've set ourselves a target of investing in 20 countries by 2020," said Mr. Tao Duc Thang, General Director of Viettel Global.
With the purchase of Beeline's assets and telecom licenses, the deal solidifies Viettel as the leading mobile operator in Cambodia, accounting for 50% market share and the biggest Internet service provider covering 96% nationwide including the nation's remote and isolated areas. New and existing consumers will also stand to benefit from Metfone's leading network reach and capabilities.
As part of its business strategy for Cambodia, Viettel will look at enhancing and developing the country's telecommunications infrastructure with the addition of 4G and 5G services in the future.
"Today's announcement is an important milestone for us, as we build on enhancing our network availability and quality, and extending our range of products and services in Cambodia. Customers can look forward to enjoying even better quality and coverage, higher speeds, value-added services, and access to 4G services in the near future. We will continue to develop the infrastructure and our capabilities in Cambodia to provide users with technologically advanced, affordable and reliable solutions," said Mr. Thang.
Viettel has invested in 10 markets over the last 10 years with almost US$10 billion revenue in 2014 and today connects over 260 million people in South America, Africa and Asia, including Vietnam, Cambodia, Laos, Timor-Leste, Haiti, Mozambique, Peru and Cameroon. It is also expected to launch services in Burundi and Tanzania later this year.