Fiji-based Amalgamated Telecom Holdings (ATH) has announced the completion of its buyout of Pacific island telco Telecom Vanuatu Limited (TVL). The firm has secured the purchase of 100% of the telecoms company from Mauritius Telecom’s MT International Ventures (MTIV) investment vehicle. The total sale price amounted to USD28 million. As previously reported by TeleGeography’s CommsUpdate, a Sale and Purchase Agreement was signed between the two companies in January 2017 and was subject to the approval of all relevant regulatory bodies and authorities. Now that these permissions have been granted, the takeover has officially been completed by ATH.
TeleGeography notes that the acquisition of TVL is the latest in a series of deals struck by ATH as it seeks to boost its Pacific telecoms assets. On 30 August 2016 ATH announced that Spain-based Amper had accepted its binding offer for the sale of all of Amper’s interests in the South Pacific, comprising BlueSky Samoa, AST Telecom (American Samoa) and BlueSky Cook Islands, although the deal has yet to be completed. Outside of its extensive telecoms interests in Fiji, ATH also owns Amalgamated Telecom Holdings Kiribati Limited [ATHKL]) – previously known as Telecom Services Kiribati Ltd (TSKL) – which it acquired in May 2015.