Amalgamated Telecom acquires remaining 51% stake in Fiji International Telecommunications
Aug 23, 2013 (MarketLine Financial Deals Tracker via COMTEX) --
Amalgamated Telecom Holdings Limited, a provider of telecommunications services, has acquired the remaining 51% stake in Fiji International Telecommunications Limited, a provider of telecommunications connectivity and terminations services, from the government of Fiji, for $9 million. Both the companies are based in Fiji.
Following the transaction, Fiji International will operate as a wholly-owned subsidiary of Amalgamated Telecom.
Earlier in 2012, Amalgamated Telecom acquired a 49% stake in Fiji International from Cable & Wireless Communications Plc.
Deal Value (US$ Million) 9
Deal Type Acquisition
Sub-Category Majority Acquisition
Deal Status Completed: 2013-08-22
Target (Company) Fiji International Telecommunications Limited
Acquirer (Company) Amalgamated Telecom Holdings Limited
Vendor (Company) Government of Fiji
% Acquisition 51%
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