Vietnam's VNPT plans to spend $1 billion on M&A related activities over the next two to three years as part of its strategy of expanding quickly in international markets.
The state-owned operator believes a heavy focus on M&A will be necessary to ensure the operator is globally competitive, Vietnam News Servicereported.
The operator is calling on the Committee for State Capital Management (CSCM), the government body responsible for managing capital at state-owned enterprises, to provide stronger support. This includes giving the VNPT board more authority in M&A activity.
According to the report, VNPT aims to grow its revenue by 7% to 9% in 2019, while increasing its profits by 10% to 15%.
The operator plans to transform its business model to embrace digital transformation, and is planning to explore investments in fiber-based broadband services in potential markets including Indonesia, Nepal, Bangladesh and the Philippines.
VNPT also plans to focus on increasing the number of subscribers at its Myanmar-based joint venture.