ATH stamps its mark as a Giant in the region
February 5, 2019 4:31 pm
ATH chief executive, Ivan Fong
Amalgamated Telecom Holdings will effectively stamp its mark in the region as one of the biggest telecommunication company.
The new status is related to the majority buy-out of Bluesky Pacific with telecommunication services in Samoa, American Samoa and the Cook Islands.
ATH chief executive, Ivan Fong says their newest venture is in line with their strategy of expanding their Pacific portfolio.
“We’ve gone to Kiribati and Vanuatu as well, so you know now including the companies in the Bluesky group we’ll be across maybe six, maybe seven markets in the Pacific. So for our expansionary journey, that is quite exciting and interesting for us.”
Meanwhile the ATH-Bluesky Pacific deal is estimated to be worth more than $150 million with ANZ expected to provide a partial funding of around $90 million of the purchase.