The Vietnam  Post and Telecommunications Group (VNPT) will divest from 50 companies as a necessary step in its restructuring plan.

According to Decision 25/2016/NĐ-CP issued on April 6 on the group’s operation, the companies that VNPT draws capital from firms, funds and commercial banks including VNPT Land, Saigon Securities Investment fund A2 (SFA2), Vietnam Maritime Commercial Bank (MSB) and Post and Telecommunication Finance Company Ltd (PTF).

After the restructure, VNPT will have charter capital of VNĐ72.2 trillion (US$3.23 billion). The group will include 71 affiliated units, two wholly owned affiliates in VNPT Media and Vinaphone and five other subsidiaries, as well as and three hospitals as services units in Hanoi, HCM City and Hai Phong.

VNPT’s board will have seven members that will be responsible for all activities of the group.

In 2014, VNPT transferred its ownerships in Vietnam Mobile Telecom Services Company (VMS) and Post and Telecommunication Institute of Technology (PTIT) to the Ministry of Information and Communication (MIC).

In 2015, VNPT earned VND89.12 trillion of revenue, 7.5 per cent higher than 2014.

VNS