The Gioi Di Dong (Mobile World) Co. Ltd. on January 3 officially finished the acquisition of Dien May Tran Anh (Tran Anh Digital), giving it the ownership of an over-90-percent stake at Tran Anh.

 

The combined market share of the two major electronics retailers in Vietnam is more than 30 percent at the time of the merger.

 

A representative of The Gioi Di Dong said the merger will help strengthen both companies. Dien May Xanh, a retail chain of The Gioi Di Dong, is reaping successes nationwide but still needs to increase its presence in the northern region, especially in inner Hanoi and neighbouring cities.

 

Meanwhile, Dien May Tran Anh is a big retail brand widely known in the north. As 34 supermarkets of Tran Anh have big scale and ideal locations, the tie-up can diversify their products for sale.

 

In the first nine months of 2017, Dien May Tran Anh earned over 2.4 trillion VND (105.3 million USD) in revenue. It targets more than 4 trillion VND in revenue (175.6 million USD) in 2018.-VNA