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Vodafone Sells Entire Stake in Fiji Based Mobile Network

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Vodafone Group has announced the surprise sale of its stake in its Fijian subsidiary.

The company said, in a very short statement that it sold its 49% stake in  Vodafone Fiji to the Fiji National Provident Fund for FJ$160 million (USD87 million) in cash.

That takes FNPF's stake in the local mobile network to 79 percent.

Vodafone added that it expects to continue to have a presence in Fiji through a Partner Market agreement.

The news comes a day after the firm's long serving Managing Director, Mr. Beranando Vunibobo retired from the company, although it's not known if that was related to the sale by Vodafone.

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Tags: vodafone  Fiji