Vingroup to take over Vien Thong A
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Vietnamese conglomerate Vingroup’s electronics retailing arm VinPro is set to acquire mobile retail chain Vien Thong A next month.
A source said that staff have been informed about the deal, and a merger process has commenced.
However, Vien Thong A’s vice GM Huynh Viet Anh responded to a question about the report’s accuracy: “That can not be disclosed now.”
Vien Thong A is one of the largest mobile device retailers in Vietnam. Founded in 1997, tit has 200 stores across the country.
The deal is said to have been on and off since early this year, before being deferred to the second quarter. According to the report, VinPro, which has 35 outlets nationwide, would buy 71 per cent of Vien Thong A, and rebrand its stores to VinPro+.
VinGroup, meanwhile, recently unveiled its first smartphone, branded the Vsmart.
Questions & Answers
Q.Which company is acquiring Vien Thong A and what percentage are they buying?
Which company is acquiring Vien Thong A and what percentage are they buying?
Vingroup's electronics retailing arm, VinPro, is set to acquire Vien Thong A. According to the report, VinPro would buy 71 per cent of the mobile retail chain.
Q.What will happen to Vien Thong A's stores after the acquisition?
What will happen to Vien Thong A's stores after the acquisition?
After the deal, Vien Thong A's 200 stores across the country are expected to be rebranded. They will operate under the new name of VinPro+.
Q.How many stores does VinPro currently operate in Vietnam?
How many stores does VinPro currently operate in Vietnam?
VinPro, the acquiring company, currently has 35 outlets nationwide. This number is significantly lower than Vien Thong A's store count.
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