By CLARISSA MOI
TELSTRA will continue operating the Digicel Foundation after buying the telecommunication company’s operations in the Pacific, Digicel PNG says.
Senior vice-president and chief sales officer Lorna McPherson told The National that the Digicel Foundation in the country, and its sustainability programmes in other Pacific markets, played an important role in community engagement.
“The foundation has a strong track record of conducting beneficial work and social development in PNG’s communities, which Telstra is very supportive of,” she said.
“Telstra plans to continue operating the Digicel Foundation, and we’ll also explore opportunities for joint initiatives and partnership with the Telstra Foundation.”
Digicel Foundation has invested about K140.31 million into rural communities through inclusive education, health programmes and projects since 2008 and had impacted about 901,704 people across the country.
Digicel Group Holdings Ltd agreed to sell its businesses in the Pacific, Digicel Pacific Ltd, to a subsidiary of the Australian telecommunications company Telstra Corporation Ltd, valuing Digicel Pacific at up to US$1.85 billion (about K6 billion), inclusive of a three-year, US$250 million (about K857million) earn-out and subject to customary post-closing adjustments.
The transaction, which remains subject to customary government and regulatory approvals, is expected to be completed in the first quarter of 2022.
Digicel Pacific operates in six markets in the Pacific: PNG, Fiji, Samoa, Vanuatu, Tonga and Nauru.
It recorded sales of about US$450mil (about K1.5bil) and adjusted earnings before interest, tax, depreciation and amortisation of about US$222mil (about K761mil) in year ended March 31.
By CLARISSA MOI