By
GERALDINE PANAPASA
THE Papua New Guinea government believes Vodafone
Fiji's impressive performance in the Fiji market can guide bemobile to success.
This follows the recent announcement by PNG Prime
Minister Peter O'Neill that Vodafone Fiji and the Fiji National Provident Fund
had been invited to take up equity in the PNG-based mobile company.
"Vodafone Fiji and its partner FNPF have
confirmed they are doing so.
“A due diligence exercise is underway right now,"
said media adviser to the PNG Prime Minister, Daniel Korimbao.
"Once this is completed, IPBC (Independent
Public Business Corporation of Papua New Guinea) will announce the details.
"We have not been given any indication on the
timing of this.
“It is confirmed as the PM announced that the PNG
government will retain controlling interest in bemobile, and will recapitalise
the company."
Korimbao said
Vodafone Fiji had been invited to manage the company.
He said a consortium bought into bemobile in 2008.
"The consortium consists of Hong Kong-based
General Enterprises Management (GEMS) with 20%, US-based Triology International
Partners (20%), NASFUND of PNG (5%) and Nambawan Super of PNG (5%)," Korimbao
said.
"They put up K150million (approximately F$129.4million)
for 50%, Telikom PNG Limited, owned by the PNG government, held the other 50%.
"They promised a roll-out programme and set
certain milestones they said they would achieve.
"But the company simply failed to take back
ground in the market share from Digicel which only entered the PNG market in
2007."
Meanwhile, Korimbao said Digicel dominated the PNG
mobile phone market controlling 85% of the market with its products.
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