Digicel Fiji snaps up more Unwired Fiji shares

28 Jul 2017

Digicel Fiji has completed the purchase of the 12.5% stake held by local broadcaster Communications Fiji Ltd (CFL) in its majority owned ISP iPAC Communications Fiji Ltd (Unwired Fiji), for a cash consideration of FJD1.25 million (USD628,650). Unwired Fiji is controlled by Digicel via its Papua New Guinea-based subsidiary Datanets, which was purchased by Digicel Pacific in 2011. Other shareholders in the ISP include Hari Punja and Sons, and Kontiki Growth Fund. CFL said the sale resulted in a gain of FJD659,371 for the company on the value of the shareholding as shown in the CFL accounts. The two companies reached agreement on the sale in May this year, setting 7 July as the likely completion date.

Fiji, Digicel Fiji, Unwired Fiji