HANOI -(Dow Jones)- Chunghwa Telecom Co. (CHT) plans to cooperate with Vietnamese operator Viettel to offer telecommunications services in Cambodia, Chairman and Chief Executive Ho Chen Tan said Thursday.
"Chunghwa Telecom is working with Viettel to offer telecom services in Cambodia," Ho Chen told Dow Jones Newswires in an interview on a sidelines of a telecom conference in Hanoi.
Chunghwa Telecom, Taiwan's largest phone company, has been looking overseas for growth, and has a 30% stake in an Internet data storage joint venture with Viettel, Vietnam's largest mobile operator by subscribers.
Viettel, which is run by the Ministry of Defense, is the only Vietnamese telecom company to have received permission to operate telecom services in Cambodia.
Ho Chen also said the company plans to finalize a plan to reduce capital by issuing new shares from the company's capital surplus and will submit a plan to the board by the end of June. He didn't elaborate on the size of the planned capital reduction.
-By Nguyen Pham Muoi and Alex Pevzner, Dow Jones Newswires; 8862-2502-2557; alex.pevzner@dowjones.com
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