Communications Fiji Limited sells Unwired Fiji shares to Digicel

1 Jun 2017

Radio broadcaster Communications Fiji Limited (CFL) has announced that it has reached a definitive agreement concerning the sale of its minority 12.5% shareholding in wireless broadband provider Unwired Fiji to Digicel Fiji. CFL will receive FJD1.25 million (USD600,000) for its stake. The transaction is expected to complete on or before 7 July 2017. Under the terms of Digicel’s original purchase in 2011, shareholders at the time were required to retain their minority shareholding for a period of five years. The purchase agreement included a mandatory buyout option which the minority shareholders have chosen to exercise.

Unwired Fiji was the first true wireless broadband internet service in Fiji, rolling out its pre-WiMAX network from 2005 to 2007 – a first in the Pacific. Digicel purchased a majority stake in the company in 2011, following which it financed the expansion of Unwired Fiji to the Western Division and further invested in technology to allow the network to continue to compete in the internet market. In August 2013 Unwired Fiji spent FJD500,000 as part of phase three of its WiMAX network expansion and today, residents and businesses in Suva, Sigatoka, Nadi, Lautoka and Ba are able to connect to Unwired 4G.

Fiji, Digicel Fiji, Unwired Fiji