VimpelCom of Russia has agreed to sell its 49% interest in Vietnamesenmobile network operator GTEL Mobile as it no longer seesnany opportunities to meaningfully grow its profit in this overcrowdednmarket. Its local partner in the venture, Global TelecommunicationsnCorporation, will buy the stake. While BMI believes consolidationnand rationalisation in the Vietnamese market is urgently needed, wensee this development as further proof that foreign or private investorsnhave little room to benefit from Vietnam’s economic growth.nRather, it is state-owned investors that are the real beneficiaries.
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