TELSTRA GROUP LIMITED 19 July 2021 | Office of the Company Secretary |
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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
Telstra Corporation Limited ACN 051 775 556 ABN 33 051 775 556
MARKET RELEASE
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
- +61 (0) 429 004 617
- media@team.telstra.com
Investor contact: Nathan Burley
- +61 (0) 457 529 334
- investor.relations@team.telstra.com
Reference number: 75/2021
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Telstra Corporation Limited published this content on 19 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 July 2021 05:02:07 UTC.
