Vodafone Sells Entire Stake in Fiji Based Mobile Network

Published on:

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.

Page Tools

 

Tags: vodafone  Fiji 

Sign up for our free daily email news alerts

Sample Copy