Published on: 1st Jul 2014
Vodafone Group has announced the surprise sale of its stake in its Fijian subsidiary.
The company said, in a very short statement that it sold its 49% stake in Vodafone Fiji to the Fiji National Provident Fund for FJ$160 million (USD87 million) in cash.
That takes FNPF’s stake in the local mobile network to 79 percent.
Vodafone added that it expects to continue to have a presence in Fiji through a Partner Market agreement.
The news comes a day after the firm’s long serving Managing Director, Mr. Beranando Vunibobo retired from the company, although it’s not known if that was related to the sale by Vodafone.