Locals urged to buy TCI shares

Friday April 11, 2014

Cook Islanders at home and abroad are being called on to band together and buy out the Government’s 40 per cent share of Telecom Cook Islands.

Owners of the land currently occupied by Telecom Cook Islands have expressed concerns over the sale of TCI shares to Digicel.

Telecommunication Minister Mark Brown has dismissed an idea to use assets held in the Cook Islands National Superannuation Fund to purchase Telecom New Zealand’s 60 per cent stake in Telecom Cook Islands.

Any locals willing and able to pay $23 million for the lion’s share of Telecom Cook Islands will soon get their chance to make an offer.

Digicel: too early to talk job cuts

Wednesday April 02, 2014

Digicel says it is too soon to know whether it will cut jobs at Telecom and it will need more time inside the organisation to make that decision.

Local businessman William Framhein is furious that the Government is allowing Telecom Cook Islands to pass into the hands of global telecommunications company Digicel.

The Government will almost certainly be waiving its right to buy Telecom New Zealand’s majority stake in Telecom Cook Islands.  

Telecom New Zealand has entered into an agreement to sell its 60 per cent stake in Telecom Cook Islands to Digicel for about $23 million.

Digicel’s play at Telecom Cook Islands is as part of a bigger plan by the company to develop a Pan-Pacific network.  

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