Business

VTV takes over VTC cable operation

The Vietnam Cable Television and Electronics Joint Stock Company (CEC) has decided to sell off a 51 percent stake to Vietnam Cable Television (VCTV) in order to raise money to pay bank debts, while retaining a 49 percent stake, reported Vietnam Post newspaper.
The Vietnam Cable Television and Electronics Joint Stock Company (CEC)has decided to sell off a 51 percent stake to Vietnam Cable Television(VCTV) in order to raise money to pay bank debts, while retaining a 49percent stake, reported Vietnam Post newspaper.

CEC, part of the Vietnam Multimedia Corporation (VTC) conglomerate, hasreleased a document informing that the management and operation of theCEC cable television network would be transferred to VCTV, a subsidiaryof Vietnam Television.

The document said thatfrom November 1, 2012, CEC subscribers would enjoy VTCV services,provided that subscribers agreed to sign new contracts with VCTV.-VNA
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