Fiji National Provident Fund-Owned Company Acquires Telecom Vanuatu

With $28 million purchase, Amalgamated Telecom Holdings extends footprint in South Pacific

By Monika Singh

SUVA, Fiji (Fiji Times, March 29, 2017) – Signed and sealed for $US28million ($F58m) yesterday, Telecom Vanuatu Ltd is now owned by Amalgamated Telecom Holdings Ltd (ATH).

The acquisition, which extends the majority owned Fiji National Provident Fund company's footprint in the South Pacific, comes just six months after the $US79m ($F164m) acquisition of Amper SA's interest in BlueSky Pacific Group.

ATH had signed the deed of sale and purchase agreement on January 30, 2017 for the acquisition of Telecome Vanuatu from MT International Ventures PCC, an investment vehicle wholly owned by Mauritius Telecom.

According to a statement issued by the South Pacific Stock Exchange, the acquisition of Telecome Vanuatu by ATH had been fully funded through a commercial bank debt, including the refinancing of shareholder loans and other debts.

In addition to Vanuatu and Kiribati, ATH through BlueSky is present in Samoa, American Samoa and the Cook Island.

It also had declared its interest to invest in East Timor.

Amalgamated Telecom Holdings Group of Companies comprises ATH, Telecom Fiji Ltd, Vodafone Fiji Ltd, FINTEL, Fiji Directories Ltd, ATH Kiribati and Datec Fiji Ltd and its subsidiary Datec Australia Pty Ltd with FNPF being its largest shareholder.

Fiji Times Online.
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