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February 11, 2012 12:00:00 AM
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Amalgamated Telecom Holdings Limited (ATH) is awaiting necessary government approvals before it proceeds to own the Fiji International Telecommunications Limited (FINTEL).
ATH chairman Ajith Kodagoda through a South Pacific Stock Exchange (SPSE) statement announced they have entered into an agreement to purchase 49 per cent Cable and Wireless Communications Plc (CWC) stake in FINTEL. ATH's wholly owned subsidiaries are Telecom Fiji Limited and Fiji Directories Limited. It also has a 51 per cent stake in Vodafone Fiji, while government owns 51 per cent shares in FINTEL, which is managed by ATH. Kodagoda said the acquisition was consistent with ATH’s objectives and was a step towards driving greater efficiencies. By Nasik Swami
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