The American Samoa-based telecommunications company Bluesky has expanded to the Cook Islands, after its subsidiary bought a 60 percent stake in Telecom Cook Islands from Spark New Zealand for about 17 million US dollars.
The Cook Islands government will maintain its 40 percent ownership of Telecom, and Bluesky's subsidiary, Teleraro's ownership structure includes participation for Cook Islands investors and Telecom employees.
Bluesky's chief executive, Adolfo Montenegro, says finance for the 60 percent stake was financed by a regional bank.
He says Bluesky hopes to build the quality and capability of telecommunications in the Cook Islands.
Established in American Samoa in 1999, Bluesky also expanded to Samoa in 2011 when it acquired state-owned SamoaTel.