M1 to acquire 70% stake in Vietnam's ADG for $37.8m

It expects to complete the acquisition in the first quarter of 2025.

M1 will acquire a 70% stake in Vietnam-based IT solutions provider ADG National Investment and Technology Development Corp (ADG) for $37.8m (VN$719.9b).

ADG's existing shareholders, including its Chairman and Founder, Vu Minh Tuan, will hold the remaining 30% stake.

The Singapore-based telco provider will acquire ADG through its wholly-owned subsidiary AP Tech Holdings.

M1 expects to complete the acquisition in the first quarter of 2025.

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