Vietnamese state-owned telecoms company Vietnam Posts and Telecommunications (VNPT) has announced it will sell a 20% stake in its VNPT Global unit to Singapore's ST Telemedia, according to Dow Jones Newswires.

Vietnamese state-owned telecoms company Vietnam Posts and Telecommunications (VNPT) has announced it will sell a 20% stake in its VNPT Global unit to Singapore's ST Telemedia, according to Dow Jones Newswires.

Without giving any financial details, VNPT revealed in a statement that the deal is scheduled to be signed later today in Hanoi. VNPT Global, which currently has three major shareholders – VNPT, Vietnam Post Corporation and cellco Vietnam Mobile Telecom Services (also known as MobiFone) – added that the company aims to expand its operations in the US, Hong Kong and Singapore.