21 Nov 2007

Monopoly long held by various telecommunications companies in Fiji ends

10:57 am on 21 November 2007

The monopoly long held by various companies in different sectors of Fiji's telecommunications industry has ended.

This follows 4-days of non-stop talks between the companies and the state mediated by World Bank officials which ended with the signing of an agreement at 3.00am yesterday.

No details of the agreement have been released yet.

But the minister for communications, Taito Waradi, said earlier that compensation for the loss of monopoly would not necessarily be in cash.

Reports have suggested that it could take the form of tax concessions or the transfer of government shares in the companies to the majority owner, Amalgamated Telecom Holdings.

The main companies affected are Telecom Fiji, Vodaphone Fiji and FINTEL.