ATH looking to acquire CWC’s 49% stake in FINTEL

9 Feb 2012

Fijian communications conglomerate Amalgamated Telecom Holdings (ATH) says it has struck an agreement to buy Cable and Wireless Communication’s (CWC’s) minority 49% in Fiji International Telecommunications (FINTEL). The international telephony provider is 51%-owned by the government of Fiji – and managed by ATH, which is also the owner of local telecoms carrier Telecom Fiji Limited (TFL). It is understood ATH’s move to effectively take full ownership of FINTEL is subject to the usual government and regulatory approvals. ATH chairman Ajith Kodagoda is quoted as saying the takeover forms part of wider plans to achieve greater efficiencies and improve its ability to provide improved products and services to Fiji.