Vietnam Television (VTV) has become the investor of K+, replacing the previous investor, Vietnam Cable Television Company (VTVCab).

Vietnam Television (VTV) and Canal+ Group have just signed a joint venture agreement. Accordingly, VTV will directly become the investor in Vietnam Satellite Digital Television Company Limited (VSTV), which owns the K+ satellite digital television brand, replacing the previous investor, Vietnam Cable Television Corporation (VTVcab).

The capital ratio in the VSTV joint venture will remain unchanged, with VTV continuing to hold 51% and Canal+ 49%. According to the joint venture representative, Vietnam Television's direct ownership of capital in the VSTV joint venture will ensure centralized management and be more advantageous for K+.

Along with the signing of this joint venture agreement comes a change in capital representation and senior personnel at K+. Mr. Cao Van Liet will step down as Chairman of the Board of Members and General Director of VSTV. Mr. Nguyen Thanh Luong, Deputy General Director of Vietnam Television, will join as VTV's capital representative and hold the position of Chairman of the Board of Members of VSTV. Mr. Le Chi Cong, Deputy Chief of the Office of Vietnam Television, will become General Director.

Established in May 2009, VSTV is a joint venture between two entities: the Vietnam Cable Television Technical Center (VCTV) (under VTV) and Canal+ International Development Company (part of Canal+ Group). The ownership change aims to implement the Government's policy on reforming state management in enterprises.

According to VnExpress