21 May 2014
The Cook Islands government says local investors have registered their interest in buying a 60% stake in Telecom Cook Islands (TCI) alongside the previously publicised bid from Digicel, reports Radio New Zealand. The Business Trade and Investment Board has extended the period for expressions of interest by two months from the original closing date of 10 May, while Minister of Telecommunications, Mark Brown, says the owner of the majority stake in TCI, Telecom New Zealand, is required to consider any local investors interested in buying its share. ‘So we have three companies now that have put forward to Telecom New Zealand an expression of interest to purchase their shares, one is Digicel and the other two companies are made up of local investors who have partnered with international investors,’ the minister confirmed. Brown added that he understands the timeframe for proposals was extended to give local companies more time to prepare their applications.