The Viet Nam Post and Telecommunications Group (VNPT) will divest capital from the Maritime Bank.

According to VNPT, after receiving VNPT’s documents related the divestment, the State Securities Commission has required VNPT to make public the divestment’s information on its website and report the divestment to relevant management agencies.

Previously, on October 2016, VNPT general director Pham Duc Long said that his group has mainly completed the divestment from non-core industries as per the restructuring programme and Government guidelines.

By the end of 2016, VNPT divested its capital at 16 enterprises with a value of VND602 billion (US$26.4 million) out of over VND2 trillion ($88 million) investment capital.

However, it was facing difficulties in the divestment from two credit institutions of Maritime Bank and Post Finance Company.

VNPT said that the divestment from the institutions is complicated because of many special requirements. VNPT, therefore, creates the solutions to divest at the direction of the State. 

VNS