Current and former ministers of Information and Communications are responsible for “serious violations” in the acquisition of TV firm AVG by state-run telecom firm MobiFone, and should be duly punished, the nation’s top watchdog has said. The two senior officials are among six officials identified by the Central Inspection Commission of the Communist Party of Vietnam in the deal that caused losses of over $307 million to the state. The commission, which held a three day meeting in Hanoi that closed on May 30, pointed to former minister Nguyen Bac Son as the one who should take the primary responsibility for the deal. MobiFone, the country’s third largest telco, had made headlines since early 2016 when it announced it was breaking into the pay TV market with the acquisition of a 95 percent stake in Audio Visual Global JSC, better known as AVG. But Son had let his ministry violate the Investment Law by approving MobiFone’s acquisition of AVG without the Prime Minister’s approval, the commission said. The ministry approved the deal despite the fact that details of the price and the project’s investment efficiency had not been fully assessed, the Government Inspectorate had said in March. The ministry reported… Read full this story
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