Telstra confirms ‘incomplete’ talks to buy Digicel Pacific – Telco/ISP

Telstra explained it has held “incomplete” talks to perhaps obtain South Pacific telco Digicel Pacific.

The possible acquisition was noted by the Sydney Morning Herald more than the weekend, with the federal government reportedly stumping up most of the rate.

The buyout offer has regional protection overtones, with the federal federal government reportedly worried that the asset could be purchased by Chinese pursuits if an Australian offer is not forthcoming.

A similar condition arose in 2018 when Australia provided to fund subsea online cables in the area, once more to cease Chinese organizations from funding the initiatives.

Telstra explained in a sector submitting on Monday that it is in “discussions concerning a possible transaction to purchase telecommunications organization Digicel Pacific in the South Pacific area in partnership with the Australian Govt.”

“The conversations are incomplete and there is no certainty that a transaction will commence,” it explained.

Telstra verified that any fairness financial commitment it created would be a “minor part of the all round transaction”, which confirms the federal government will foot most of the invoice.