Deputy Minister Do Thang Hai made the clarification in a statement on Wednesday after Internet rumors claimed ThaiBev, the Thai owner of Saigon Beer Alcohol Beverage Corporation, wants to sell its 53.59 percent stake at VND130,000 ($5.6) a share.
The Sabeco stock closed at VND180,000 ($7.7) on Wednesday.
The spread of incorrect information causes severe damage to the reputation of businesses as well as the business environment in Vietnam, where all efforts are being made to revive the economy amid the coronavirus pandemic, he said.
ThaiBev, one of Asia’s largest beverage companies, spent nearly $5 billion in 2017 to acquire the stake in Sabeco from the ministry, which retains 36 percent.
The Thai giant too recently denied reports that it is planning to sell Sabeco, saying Vietnam remains a core market.
In December last year ThaiBev denied rumors it was selling shares of Sabeco to brewer Budweiser APAC.
Sabeco, which has a market cap of VND113 trillion ($4.9 billion), recorded a seven-year low profit of VND720 billion ($31 million) in the first quarter, which it said was caused by "unexpected pandemic effects."
- ThaiBev rejects reports it is selling Vietnam’s largest brewer
- Vietnam to divest 36-percent state stake in brewer Sabeco
- SCIC to divest State stake in Sabeco this year
- Shares climb on state stake divestment plan in brewer Sabeco
- Drunk driving laws, coronavirus leave brewer Sabeco groggy
- MoIT transfers State ownership in Sabeco to SCIC
- Sabeco sees revenue down, profit up in Q3
- Ministries ask for permission to change SOE divestment plans
- Sabeco aims to reduce revenue and profit by 2020