Digicel Group has entered into an agreement to sell Digicel Pacific, its wholly-owned subsidiary, to a subsidiary of the Australian telecommunications company Telstra, valuing it at up to US$ 1.85 billion.
The transaction, which remains subject to customary government and regulatory approvals, is expected to complete in the first quarter of 2022. Digicel Pasific operates in six markets in the South Pacific including Papua New Guinea, Fiji, Samoa, Vanuatu, Tonga and Nauru.
On completion Digicel will have no operational responsibility for the Pacific operations though customary transition services will be provided by Digicel Group for a short period. There will be no change to the Digicel brand in the six markets and the current Digicel Pacific management team will remain with and continue to lead the business delivering best in class telecommunications services to DPL’s valued customers in the South Pacific.
Denis O’Brien, Digicel Founder and Chairman
Today’s announcement is a tremendous testament to our colleagues across Digicel Group and in particular, our 1,700 staff in the Pacific. In 2006, we established a business in the South Pacific region that has helped democratise mobile communications and transform local economies and societies by making affordable best-in-class communications available to more than 10 million people across six of the most exciting markets in the South Pacific region.
