Company sells shares
28 July, 2017, 12:00 am
REGIONAL broadcast organisation Communications Fiji Ltd (CFL) announced on Wednesday through a statement to the South Pacific Stock Exchange that they had received payment for the sale of their minority shareholding of 12.5 per cent in internet service provider iPAC Communications Fiji Ltd (Unwired Fiji).
The shares were sold to Digicel (Fiji) Ltd at a consideration of $1,251,254.83 for its 12.5 per cent shareholding.
CFL said the sale resulted in a gain of $659,371 for the company on the value of the shareholding as shown in the CFL accounts.
This would have a direct impact on Communications Fiji Ltd’s results for the year ending December 31, 2017.