Australia Invests in $1.6 Billion South Pacific Telco Deal | The Salesmark

Australia Invests in $1.6 Billion South Pacific Telco Deal

Australia Invests in $1.6 Billion South Pacific Telco Deal

Australian telco Telstra has partnered with the Australian government in a $1.6 billion deal to buy the South Pacific operations of Digicel in a deal that would prevent a key part of the region’s telecommunications infrastructure from falling into Chinese hands.

Telstra, the nation’s largest telco, said in a statement on Monday it would contribute $270 million to the deal and hold 100% of the equity in Digicel Pacific.

The terms of the sale were agreed on and would be completed within six months, Telstra chief executive Andrew Penn said.

“Digicel Pacific is a commercially attractive asset and critical to telecommunications in the region,” Penn said.

Digicel is owned by Irish businessman Denis O’Brien, is incorporated in Bermuda, and is headquartered in Jamaica. It operates in 33 markets around the world.

It is the leading mobile phone carrier in Papua New Guinea, Tahiti, Tonga, Nauru, Samoa, and Vanuatu. It is the second biggest carrier in Fiji after Vodafone.

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