Deal for bemobile back under discussion

12 Aug 2013

Despite the announcement last week that deal under which Vodafone Fiji would manage Papua New Guinean mobile network operator bemobile had been called off, Islands Business claims negotiations have restarted over a possible tie-up. According to the local news source, Fiji’s National Provident Fund (FPNF) chairman Ajith Kodagoda confirmed that discussions with Papua New Guinea’s Independent Public Business Corporation (IPBC) are again underway, and in revealing the development he claimed that one of the reasons for the withdrawal from the earlier deal was due to certain conditions critical to the achievement of the business plan projections not having been met. ‘[The] FNPF has recommenced talks with the Independent Public Business Corporation of PNG,’ Kodagoda noted, adding: ‘The bemobile share subscription agreement was not completed as certain conditions critical to the achievement of the business plan projections were not met … The fund remains positive that parties involved would explore all alternative structures going forward.’

Papua New Guinea , bmobile (PNG)

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