CWC to offload 32.5% stake in Our Telekom to SINPF

16 Oct 2014

Reuters reports that UK-based Cable & Wireless Communications (CWC) agreed to divest its 32.577% stake in Solomon Telekom (Our Telekom) to its joint venture partner and majority shareholder, Solomon Islands National Provident Fund (SINPF), which holds 64.740% of the telco’s shares. The transaction will realise total cash proceeds of approximately USD16.5 million and marks CWC’s effective exit from the South Pacific region, having already sold off interests in Vanuatu and Fiji. The remaining 2.683% stake is held by the Investment Corporation of the Solomon Islands (ICSI).

Solomon Islands, Cable & Wireless Communications (CWC, incl. Columbus Int.), Solomon Telekom (Our Telekom)