Telstra to acquire telecommunications operator Digicel Pacific

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Australian telecom company, Telstra has recently announced that it will acquire Digicel Pacific, a move that has been welcomed by the Australian Government.

For starters, Digital Pacific is one of the top telecommunications operators in the South Pacific, offering mobile and network services in Nauru, Samoa, Vanuatu, Tonga, Papua New Guinea, and Fiji. It has been a successful and evolving Telecom provider in the Pacific for the last fifteen years.

The acquisition by Telstra demonstrates the company's proficiencies and about the wider business confidence in the Pacific region future. Export Finance Australia (EFA) is offering the financing that will qualify Telstra to take this viable opportunity and bring esteemed experience in managing financial and other risks.

As per sources, the Government of Australia has agreed to offer a financing package via EFA of USD1.33 billion to support Telstra's acquisition, in line with the longstanding commitment of Australia to growing quality investment in regional infrastructure.

This package will include debt and equity-like securities deliberate to protect the Government from a long-term return on its financing.

The purchase also underscores the Government's commitment, as part of the Pacific Step Up, to assist the development of secure and dependable infrastructure in the Pacific, which is important to the region's economic growth and development.

Additionally, it will aid in the recovery of COVID-19 in the region and improve resilience and stability.

Telstra has been a trusted telecommunications operator in Australia for nearly a century, assisting in developing key infrastructure and economic growth. It's also one of the largest phones and data service providers linking the South Pacific to the rest of the globe.

Telstra is dedicated to ensuring Digicel Pacific delivers high-quality, dependable services to the Pacific area and building trusting ties with Pacific governments.

Moreover, Telstra will discuss regulatory needs and permissions with governments in Digicel's operational nations following the recent announcement.

Source Credit - https://www.foreignminister.gov.au/minister/marise-payne/media-release/telstra-decision-acquire-digicel-pacific