Vodafone Fiji and Austel Investment execute co-investment agreement in PNG mobile project
5 August, 2021, 7:00 am
Vodafone Fiji Limited and Austel Investment Pty Ltd have executed a co-investment agreement for the two companies to jointly invest alongside ATH, Asian Development Bank (ADB), Samoa National Provident Fund and the Unit Trust of Samoa in the PNG Mobile Project.
As had been announced earlier by the company via the South Pacific Stock Exchange (SPX), this investment would be made through ATH International Ventures (ATHIV), a company registered in Singapore – and it is tasked with financing a new mobile broadband telecommunications network construction project in Papua New Guinea (PNG).
In its latest announcement in SPX last Friday, the ATH stated that apart from being an equity partner, Vodafone Fiji Limited would also operate the mobile business under the Vodafone brand.