Fiji-PNG mobile deal praised

Business, Normal

The National, Tuesday 23rd April 2013

 THE chair of Amalgamated Telecom Holdings Ajith Kodagoda told Fiji Broadcasting Corporation that the bemobile deal Fiji has signed with Papua New Guinea is very secure.

The Fiji National Provident Fund (FNPF) has committed around F$180 million to buying 40% shares in bemobile.

The signing of the bemobile investment agreement is significant for both countries as they embark on strengthening traditional and trade ties.

“We’ve gone through almost one year of due diligence. 

“We got the best advice from the consultants overseas,  we got the best legal teams in the world assisting us in the preparation of the legal agreement so we are very confident,” he said.

“Members expect to enjoy high returns in the future through this investment.”

“There are huge opportunities for two players we have a lot of respect for the competitor and we will always have respect but I think the fight now begins and there’s enough market to be shared with both.”

Vodafone will manage the investment with most of its staff and resources from Suva.