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Vietnam's Viettel To Invest In Cameroon's Telecommunications Industry

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12/11/2012 | 01:17pm EST
   By Emmanuel Tumanjong 
 

YAOUNDE, Cameroon--Viettel Cameroun Sarl, the local unit of Vietnamese telecommunication company Viettel, will invest about 200 billion CFA francs ($393.9 million) in Cameroon's telecommunications industry, said Minister of Telecommunications Jean Pierre Biyiti Bi-Essam.

The statement late Monday followed news that Viettel has been chosen by the government as the country's third mobile telephone operator.

Viettel will be competing against Orange, controlled by France Telecom (>> FRANCE TELECOM), and South Africa's MTN Group Ltd. (MTN.JO), which have nine million subscribers among Cameroon's 20 million inhabitants.

Viettel "will be covering some 81% of the national territory [in Cameroon] when it goes operational; and will use second and third generation technologies," said Mr. Bi-Essam.

India's Bharti Airtel Ltd. (532454.BY), Maroc Telecom (IAM.CL) and Korea Telecom were among Viettel's rival bidders for the mobile telecom tender that was launched earlier this year.

Write to Emmanuel Tumanjong at realtimedesklondon@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stocks mentioned in the article : FRANCE TELECOM
Stocks mentioned in the article
ChangeLast1st jan.
AIRTEL AFRICA PLC -2.16% 70.1 Delayed Quote.-10.38%
BHARTI AIRTEL LIMITED 1.01% 535.25 End-of-day quote.19.70%
DOW JONES AFRICA TITANS 50 INDEX -0.95% 512.53 Delayed Quote.-3.69%
DOW JONES SOUTH AFRICA(ZAR) -0.59% 1713.8 Delayed Quote.-4.45%
KT CORPORATION -2.43% 24100 End-of-day quote.-1.43%
MAROC TELECOM -1.81% 13.55 Real-time Quote.-3.50%
MAROC TELECOM 0.07% 150.6 End-of-day quote.-1.31%
MTN GROUP LIMITED -5.26% 82.79 End-of-day quote.-3.74%
ORANGE -2.08% 12.955 Real-time Quote.0.84%
S&P AFRICA 40 INDEX -1.19% 160.17 Delayed Quote.-4.10%
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