February 08, 2013

FNPF to invest in PNG, Solomon Islands mobile sector

07:22 Today (February 8, 2013)
Report by: Rita Narayan

The Fiji National Provident Fund and Vodafone Fiji have set their eyes on the lucrative mobile telecommunications sector in Papua New Guinea and Solomon Islands.

An agreement is expected to be finalised soon.

FNPF will invest capital to take a 41 per cent stake in the venture with the Independent Public Business Corporation which will own 51 per cent shareholding.

Existing shareholders including PNG superannuation funds, Nasfund and Nambawan Super as well as PNG Sustainable Development Programme will hold the remaining eight per cent.

Vodafone Fiji will manage the companies under a management contract.

Managing Director Aslam Khan offered no comments on behalf of Vodafone Fiji.

Questions sent to FNPF yesterday are yet to be addressed.

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