Viettel Investment Is No Magic Bullet For GrowthMay 2010 | Company News Alert
Viettel Corporation, the largest mobile network operator in Vietnam, has agreed to help rebuild and expand Haiti's shattered fixed-line infrastructure with a commitment to invest almost US$100mn over the next four years. A special investment vehicle, to be owned 60% by Viettel, will be set up to manage the project, which is being backed by the International Finance Corporation (IFC). This is contrary to earlier reports that Viettel would take a direct stake in incumbent state-owned operator Telecommunications d'Haiti (Teleco) to carry out the work, but BMI believes this approach will be in the best interests of both parties.
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