Chunghwa, Viettel form data storage venture

Chunghwa Telecom Co., Taiwan's largest telephone company, said it formed a joint venture with Vietnam Military Telecommunications Corp. to provide data storage and Web hosting services for companies in Vietnam. Viettel-CHT Co. Ltd. will have initial investment of US$30 million, the Taiwanese company said in a filing to the Taiwan Stock Exchange yesterday. Chunghwa will own 30 percent of the venture and Vietnam Military Telecommunications the remaining 70 percent.