Cook Islands finance minister Mark Brown says that multi-national cellular group Digicel has indicated its interest in purchasing the government’s 40% stake in Telecom Cook Islands (TCI), following reports that the pan-Caribbean/Pacific mobile operator is on the verge of acquiring Telecom New Zealand’s (TNZ’s) 60% TCI shareholding. IslandsBusiness.com quotes Brown as saying that the government has yet to receive an offer from Digicel while no official decision has been made as to whether the government-held shares would be sold, pending analysis such as forecasting future cash flows for the telco. The government currently retains two board members on TCI’s five-person board, and to maintain a boardroom presence it would need to keep at least 20% ownership. A Digicel representative visited the Cook Islands last week to study the regulatory environment, along with fees, taxes and levies that would apply if the Jamaica-based group, with operations in 31 countries, entered the local market. Brown also reiterated a previous public statement that the government has no intention to take majority control of TCI and would waive its right of first refusal on the potential Digicel-TNZ 60% share purchase deal.
Have feedback, corrections, or story ideas? Send them to firstname.lastname@example.org.
Browse Past Issues
Filter CommsUpdate by the following categories or use the search.
Visit our help page information on performing advanced searches, including how to restrict the results by country or company.
CommsUpdate is an outstanding advertising venue for companies seeking to reach:
- International carriers
- Wholesale service providers
- Equipment and software vendors
- Telecom investors