Vietnam’s government is selling shares in state-owned companies as part of a two-decade-old process of shifting to a market-based economy.

France Telecom SA, Europe’s third-largest telephone company, is considering buying a minority stake in MobiFone, Chief Executive Officer Didier Lombard said in an interview last month.

About seven companies in Asia and Europe, including Vodafone Group Plc. and operators in Russia and Asia,have expressed interest in buying shares of MobiFone, the Southeast Asian nation’s second-biggest mobile-phone company by number of subscribers.

The sale was delayed from this year because of a slump in the nation’s stock market.

The benchmark VN-Index has rebounded more than 24 percent from a 28-month low on June 20, leaving the measure down almost 51 percent this year.

Lai said the government would decide how big a stake to sell in MobiFone following consultations with Zurich-based Credit Suisse.

Hanoi-based MobiFone plans to sell 30 percent of its shares at the initial public offering, Vietnam News Agency reported, citing the Ministry of Information and Communications.

A spokesperson for MobiFone declined to comment.