Chinese Company Completes Acquisition of Lao Telecom Company
2017-03-28 01:20:45
China Report Asean 2017年9期
INVESTMENT
Chinese Company Completes Acquisition of Lao Telecom Company
THE ESTABLISHMENTof the Enterprise of Telecommunications Lao Company and a ceremony of work transfer were held on Aug. 8 in the Lao capital Vientiane, completing acquisition and transfer by China’s Comba Telecom.
In August 2016, the Lao government signed a joint venture agreement with Jiafu Holdings, a whollyowned subsidiary of Comba Telecom. Following a bilateral agreement, a 51 percent stake of ETL was sold to Jiafu Holdings, and the ETL Public Company was renamed the ETL Company.
Lao Minister of Post and Telecommunications Thansamay Kommasith said at the ceremony that it marks a major event in the history of Lao telecommunications, fully illustrating the determination of the Lao government in reforming the ETL company, which is of great significance in promoting the development of overall Lao telecommunications.
Representatives of the ETL Company and Comba Telecom said the newly formed ETL Company is the first China-Laos joint venture telecom operator, with full telecommunications network qualification and national coverage of the mobile network, while the transmission network infrastructure has advantages and a good foundation for further development.
Comba Telecom is confident of its investment in the ETL project and will provide users with better service and experience, therefore achieving economic and social benefits for the sake of the Lao people.
