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C&WC Sells Fiji JV Stake

LONDON -- Cable & Wireless Communications (CWC) announces today that it has completed the sale of its 49% shareholding in Fiji International Telecoms Limited (Fintel) to Amalgamated Telecoms Holdings Limited (ATH) for a total cash consideration of approximately US$10.6 million.

The divestment is consistent with CWC’s strategy to reshape its portfolio and develop the business around full-service telecommunications operations in a series of core regional hubs.

Fintel provides international telecommunications services to Fiji, as well as wireless broadband and internet service provider services. The remaining 51% of shares in Fintel are owned by the Government of the Republic of Fiji and managed on its behalf by ATH.

ATH is involved in the provision of a wide range of telecommunication services in Fiji through its wholly owned subsidiaries Telecom Fiji Limited and Fiji Directories Limited and its 51% shareholding in Vodafone Fiji Limited. The principal activities of the ATH Group are providing telecommunication services, compilation and publishing of the Fiji telephone directory and the operations of mobile telecommunications networks.

Cable & Wireless Communications

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