Vodafone exits Fiji; sells 49% stake to Fiji National Provident Fund

1 Jul 2014

UK-based telecoms giant Vodafone Group yesterday announced that it is effectively exiting the Fijian market by selling off its entire 49% shareholding in Vodafone Fiji to the Fiji National Provident Fund (FNPF) for a cash consideration of FJD160 million (USD87.9 million). The transaction lifts FNPF’s direct and indirect stake in the cellco to approximately 79%, and means that Vodafone Fiji is now 100% locally owned. Amalgamated Telecom Holdings Limited directly owns a 51% shareholding in the carrier, which competes with sole rival Digicel Fiji in the country. For its part, Vodafone Group says it expects to retain a presence in Fiji solely via a partner market agreement.

Fiji, Vodafone Fiji, Vodafone Group