Telecommunications company Telstra has partnered with the Australian government to acquire Digicel operations in the South Pacific region, which provides mobile and network services in Fiji, Nauru, Papua New Guinea, Samoa, Tonga and Vanuatu, the Australian company announced on Monday.
Telstra CEO Andy Penn has visited Papua New Guinea to discuss with the country’s political leaders the company’s planned purchase of telco Digicel Pacific.
The sale of Digicel’s Pacific portfolio including Digicel Samoa to the Australian telecommunications giant Telstra is “not certain”, according to the Telstra CEO Andy Penn.
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Stephen Dziedzic There you go. Flagged for months, but now a reality. The Australian Govt is handing Telstra a package worth around $1.9 billion to help buy South Pacific telco operator Digicel. Govt says the announcement will send an “important signal” about business confidence in the Pacific.
Natalie Whiting Telstra is contributing US$270 million of equity and the Australian Government, via Export Finance Australia, is providing the remaining US$1.33 billion through a combination of non-recourse debt facilities and equity like securities. Telstra will own 100% of the ordinary equity.