REG - Telstra Corp. Ld - Media speculation on Digicel Pacific
RNS Number : 5936FTelstra Corporation Ld19 July 2021
19 July 2021
The Manager
RNS
Office of the Company Secretary
Level 41
242 Exhibition Street
MELBOURNE VIC 3000
AUSTRALIA
General Enquiries 03 8647 4838
Facsimile 03 9650 0989
companysecretary@team.telstra.com
Investor Relations
Tel: 1800 880 679
investor.relations@team.telstra.com
ELECTRONIC LODGEMENT
Dear Sir or Madam
Media speculation on Digicel Pacific
In accordance with the Listing Rules, I attach a market release for release to the market.
Authorised for lodgement by:
Sue Laver
Company Secretary
Media speculation on Digicel Pacific
Monday 19 July 2021 - In response to a story in The Age/Sydney Morning Herald (17 July 2021) Telstra has confirmed it has been in discussions regarding a potential transaction to acquire telecommunications company, Digicel Pacific in the South Pacific region in partnership with the Australian Government.
The discussions are incomplete and there is no certainty that a transaction will proceed.
Telstra was initially approached by the Australian Government to provide technical advice in relation to Digicel Pacific which is a commercially attractive asset and critical to telecommunications in the region. If Telstra were to proceed with a transaction it would be with financial and strategic risk management support from the Government.
In addition to a significant Government funding and support package any investment would also have to be within certain financial parameters with Telstra's equity investment being the minor portion of the overall transaction.
Digicel Pacific was founded in 2006 by Denis O'Brien, an Irish entrepreneur, and is a leading provider of communications services across Papua New Guinea, Fiji, Nauru, Samoa, Tonga and Vanuatu.
Digicel Pacific enjoys a strong market position in the South Pacific region generating EBITDA of $US235 million in calendar 2020 with a strong margin, as well as extensive network coverage.
Telstra will keep the market updated as appropriate.
Media contact: Nicole McKechnie
M: +61 (0) 429 004 617
Investor contact: Nathan Burley
M: +61 (0) 457 529 334
E: investor.relations@team.telstra.com
Reference number: 75/2021
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.ENDSPCDKFBQDBKBCOD
Recent news on Telstra
See all newsRCS - Telstra Corp. Ld - Telstra secures mid-band spectrum
AnnouncementRCS - Telstra Corp. Ld - Transcript of Telstra Investor Day 2023
AnnouncementRCS - Telstra Corp. Ld - Telstra announces new Intercity Fibre routes
AnnouncementRCS - Telstra Corp. Ld - Telstra Investor Day presentations
AnnouncementRCS - Telstra Corp. Ld - Annual General Meeting presentations
Announcement