SYDNEY, July 14 (Xinhua) -- Australia's largest telecom provider, Telstra, in partnership with the Australian government has finalised its acquisition of Digicel Pacific, the leading telecommunications operator in the South Pacific.
The deal, first announced in October of 2021 and finalised on Thursday, saw Telstra contribute 270 million U.S. dollars to a total purchase price of 1.6 billion U.S dollars.
Telstra CEO Andrew Penn welcomed Digicel Pacific to the "Telstra family" alongside a lodging with the Australian stock exchange (ASX) on Thursday.
Under the buyout deal, Digicel Pacific would be overseen by a Telstra controlled board but would operate as an independent business under the Telstra international segment.
Digicel Pacific has 2.8 million subscribers and 1,700 employees across Papua New Guinea (PNG), Fiji, Nauru, Samoa, Tonga and Vanuatu. ■
