Business

Digicel seals $5.7m deal

Six days of ‘non-stop negotiations’ concluded this afternoon with Digicel Fiji signing an agreement with Fijian Holdings Limited (FHL) to acquire Sky Pacific for $5.7million dollars. FHL owns Fiji Television Limited, which owns the pay-tv network Sky Pacific. Nouzab Fareed, Group CEO of FHL: Today we officially signed the agreement to handover (Sky Pacific) to Digicel within the […]

Calvin Prasad

September 17, 2015 10:42 pm

Six days of ‘non-stop negotiations’ concluded this afternoon with Digicel Fiji signing an agreement with Fijian Holdings Limited (FHL) to acquire Sky Pacific for $5.7million dollars.

FHL owns Fiji Television Limited, which owns the pay-tv network Sky Pacific.

Nouzab Fareed, Group CEO of FHL:

Today we officially signed the agreement to handover (Sky Pacific) to Digicel within the next few months or so.

We were working on this for the last three months, and last six days was basically non-stop negotiations, and lot’s of versions of the agreement, before we came to the conclusion this afternoon.

Darren Mclean, CEO, Digicel Fiji:

This transaction with Fiji Television Limited made us an important step closer to Digicel achieving our vision of being a total communications and entertainment provider in this region.

We have content agreement and content used in PNG and elsewhere in the Pacific.

We wouldn’t be buying a business in this way if we didn’t believe we can make improvements to the content and quality.

Fiji TV will provide backup service to Digicel for the next two years.

What do you think? Leave a comment below.