GTEL-Mobile has announced a plan to expand its business in Vietnam, including the goal to make its mobile network Beeline the fourth largest in the country.
The company said it will build 5,000 new base transceiver stations next year. It also plans to add 1,000 staff members and increase its total number of retail outlets to 50,000 in the country.
Michael Cluzel, General Director of GTEL-Mobile, confirmed that Russian telecom company VimpelCom will provide an additional US$500 million for the Vietnamese joint venture. The total investment from VimpelCom could reach $1 billion.
News website VnEconomy quoted Cluzel as saying that the large investment would help Beeline grow into the fourth largest network in Vietnam.
Cluzel replaced Alexey Blyumin as General Director of GTEL-Mobile as of June 24, a change that the company found neccesary amid fierce competition in the domestic market.
Beeline launched its service in Vietnam in July 2007 and it has nearly one million subscribers now.
The local market is dominated by three major state-owned operators, VinaPhone, MobiFone and Viettel. Together they account for 88 percent of total mobile subscribers in the country, according to PricewaterhouseCoopers.