|Rumors on stake sale of brewer Sabeco: ThaiBev denies|
|Culture Trip cites 11 reasons to visit Ho Chi Minh city|
|Bui Vien, Sai Gon's backpacker street bustling again [Photos]|
A person holds a Saigon Special bottle in Hanoi. Photo by Shutterstock/NATTHAMATE.
Deputy Minister Do Thang Hai made the clarification in a statement on Wednesday after Internet rumors claimed ThaiBev, the Thai owner of Saigon Beer Alcohol Beverage Corporation, wants to sell its 53.59 percent stake at VND130,000 ($5.6) a share.
The Sabeco stock closed at VND180,000 ($7.7) on Wednesday.
The spread of incorrect information causes severe damage to the reputation of businesses as well as the business environment in Vietnam, where all efforts are being made to revive the economy amid the coronavirus pandemic, he said.
ThaiBev, one of Asia’s largest beverage companies, spent nearly $5 billion in 2017 to acquire the stake in Sabeco from the ministry, which retains 36 percent.
The Thai giant too recently denied reports that it is planning to sell Sabeco, saying Vietnam remains a core market.
In December last year ThaiBev denied rumors it was selling shares of Sabeco to brewer Budweiser APAC.
Sabeco, which has a market cap of VND113 trillion ($4.9 billion), recorded a seven-year low profit of VND720 billion ($31 million) in the first quarter, which it said was caused by "unexpected pandemic effects."
|Finance industry dominates Forbes' Vietnam list of top 50 listed firms |
Banking, securities and insurance firms dominate Forbes Vietnam’s 2020 list of top 50 listed firms with 10 representatives.
|Despite Covid-19, Vietnam Government reaffirms determination to overcome challenges |
On the Cabinet meeting Tuesday, Prime Minister Nguyen Xuan Phuc reaffirmed the Government’s strong determination not to shrink from difficulties caused by the COVID-19 pandemic.
|Vietnam property firms gear up for the post pandemic recovery |
After a period of hibernation, in early May 2020, real estate businesses have started to return to the competitive race after Covid-19 pandemic at ease. ...