Digicel considering Cook Islands acquisition
10 January 2014 |
Caribbean operator Digicel is eyeing the acquisition of Telecom NZ's stake in Telecom Cook Islands (TCI), according to reports.
Mark Brown, finance minister for the Cook Islands, reportedly told a local newspaper in New Zealand that Digicel Pacific was considering buying Telecom NZ’s 60% stake in TCI. The remaining 40% of the company is owned by the Cook Islands government.
“Digicel is back on the beach, they’re kicking the tyres again,” Brown said.
“They will probably make an offer to Telecom New Zealand.”
Digicel made an unsuccessful NZ$20 million bid for TCI in 2009, but in December last year, Telecom NZ announced that it was thinking about selling its Cook Islands subsidiary.
There has been no comment from the Digicel group as yet.