UK’s Vodafone has sold its 49% stake in Vodafone Fiji, the archipelago’s largest mobile operator, to the Fiji National Provident Fund (FNPF). Following the FJ$160m (US$88.4m) transaction, the company is now 100% locally-owned. The other 51% remain…
UK’s Vodafone has sold its 49% stake in Vodafone Fiji, the archipelago’s largest mobile operator, to the Fiji National Provident Fund (FNPF).
Following the FJ$160m (US$88.4m) transaction, the company is now 100% locally-owned.
The other 51% remain in the hands of the Fiji government through its investment arm Amalgamated Telecom Holdings (ATH). FNPF has a 58% interest in ATH, giving it overall a 79% direct and indirect holding in Vodafone Fiji.
Although Vodafone will no longer have an equity stake in the company, it expects to continue having a presence in Fiji through a partner market agreement. It already has such pacts in place in around 50 countries across the globe.
This announcement comes just a day after Vodafone Fiji’s managing director, Aslam Khan, said he would retire. He has held the role since the operator was created, more than 20 years ago.
Pradeep Lal, another company veteran who has been CFO and COO of the government-controlled telco since 1997, is taking over as head of the company.
The operator had a monopoly on the islands until 2009, when the market opened up to Digicel. Vodafone Fiji launched 4G services last December.
