The Fijian company that’s waiting in the wings to purchase BlueSky, Amalgamated Telecoms Holding, is moving to invest in the investment arm of the Samoa Government, Unit Trust of Samoa.
ATH Chief Executive Ivan Fong was in Apia to sign the MOU with UTOS CEO Sa’u Justina Sa’u Lam.
The agreement solidifies ATH’s position in the communications industry as it moves to secure control of the Bluesky Group which owns 100% of BlueSky American Samoa from Spanish giant Amper.
UTOS owns 25% of BlueSky Samoa, which recently paid a $ST1 million dividend to the government run trust that invests on behalf of local ‘unit’ holders.
According to a release from the Samoa Government, the MOU “is leverage for both parties when it comes to investments and will spell more returns for UTOS unit holders”.
CEO Sa’u said the MOU signed with ATH opens a lot of doors in terms of investment opportunities outside of Samoa including Fiji not only in the telecommunication industry but other sectors as well.
She pointed out that ATH is looking to secure the Cook Islands Government 40% shareholding in Telecom Cook Islands which BlueSky controls through it’s 60% share holding.
According to Sa’u, the Government of Cook Islands is looking at divesting its 40% shares and ATH is looking at acquiring that 40% share, presenting another opportunity for UTOS to invest.
ATH CEO Ivan Fong said ATH will be looking at investing together with UTOS in other parts of the Pacific region in telecommunication and ICT but there’s hope for much more to be done.
UTOS also has equity in the Tui Samoa submarine cable, lending for government projects including commercial real-estate in New Zealand, and a significant minority holding in Bluesky Pacific Holdings Ltd.
