Telikom eyes EMTV

 Telikom PNG has signed a memorandum of undertaking (MoU) with Fiji Television Ltd for the acquisition of its PNG subsidiary, Media Niugini Ltd (MNL).

It is understood the state-owned entity has been in discussion with Fiji Television in the past months and only signed the MOU a few days ago.

Under the terms of the agreement, Telikom would have exclusive rights to carry out a due diligence on Media Niugini Ltd and an assessment of value. 

Telikom PNG would make an offer to acquire the company before Nov 30.

Chief executive officer Michael Donnelly said “We (Telikom) are excited about this business opportunity and see positive synergies between both companies. Now, with the MNL acquisition, we will be able to extend our offering beyond voice and data services to include content along with FM100 business unit to the PNG market. Telikom PNG recently acquired Datec PNG Ltd, which is the leader in ICT business”.

“This investment will be subject to the regulatory approvals in PNG,” he said. Media Niugini Ltd chairman Iowane Naiveli said the firm has been exploring the PNG media market for expansion or divestment. 

He added: “Based on market conditions and including PNG media legal framework, we have agreed that the best decision would be to divest. We have built this company up in the last eight years, and we want to give it back to PNG.”