8 Jul 2014

Vodafone confirms Fiji sale amount

8:49 am on 8 July 2014

Vodafone Global has confirmed it sold its 49 percent share in Vodafone Fiji to the National Provident Fund for $88 million US dollars.

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Photo: PHOTO NZ

The Fiji Times reports the Vodafone headquarters in England confirmed the amount and said is expects to continue to have a presence in Fiji through a partner market agreement.

The fund chairman Ajith Kodagoda told the Times the transaction was complete and the investment of the Fiji National Provident Fund was a wise one, as the telecommunications industry is in high-growth.

He says Vodafone has been one of the best companies in Fiji over the last ten years on a return on equity basis.

Amalgamated Telecom Holdings Limited directly owns the remaining 51 percent shareholding in Vodafone Fiji Limited.