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Amalgamated Telecom Holdings has finally received all necessary regulatory approvals for its deal with Spanish company Amper SA to complete the acquisition of Bluesky.
A market announcement sent through the South Pacific Stock Exchange said ATH’s counsel received notification that in respect of the notified transaction for ATH’s acquisition of Amper SA’s interests in the eLandia International Inc (Bluesky Group) and the consequent change of control that the Committee of Foreign Investment in the United States (CFIUS) had completed its review of the transaction under the Defense Production Act 1950, (as amended).
ATH chief executive officer Ivan Fong said the CFIUS notice stated that “Based on its review and investigation, after full consideration of all relevant national security factors, including the factors enumerated in subsection (f) of section 721, CFIUS has determined that there are no unresolved national security concerns. Action under section 721 is concluded with respect to this transaction.”
Under the key terms of the offer, ATH acquires a controlling interest in the South Pacific units for US$79 million ($F167.7m)
The principal activities of these entities are telecommunication services in Samoa, Cook Islands, New Zealand and American Samoa, through a number of subsidiary entities in US and these other countries (collectively referred as Bluesky Group).
SOURCE: FIJI TIMES/PACNEWS
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