Vietnam’s public security ministry takes stake in internet firm FPT Telecom

HANOI: A majority stake in Vietnam’s FPT Telecom, one of the country’s largest internet providers, has been transferred to the Ministry of Public Security from a state-run investment corporation in an effort to boost national cybersecurity, the ministry said on Wednesday.

Vietnam’s State Capital Investment Corporation previously held 50.17% of FPT Telecom, while FPT Corp, Vietnam’s largest private tech company, had a 45.66% stake but retained control of the unit, according to FPT Telecom’s financial statements for last year.