Vodafone Fiji not out, resume talks with BeMobile
It seems we may have been too haste in reporting about Vodafone Fiji pulling out of its agreement with BeMobile. It has not even been a week yet, and reports have surfaced that the companies have resumed talks.
According to The National, Ajith Kodagoda, chairman of Fiji National Provident Fund; who would own 40% equity shares in the joint venture said talks have resumed. In a statement to the media, he said talks have recommenced with IPBC. However, this could not be confirmed with IPBC managing director, Wasantha Kumarasiri.
On Monday, Prime Minister Peter O’Neil and State Enterprises Minister, Ben Micah, announced Fiji NPF not extending the grace period “meaning they have pulled out.” However, Kodagoda announced the resumption of talks on Wednesday stating that the share subscription agreement was not completed as certain critical conditions to achievement of the business plan were not met.
He said as custodians of monies belonging to its members, they (NPF board) were mindful of their fiduciary duties to protect and grown members’ savings and would always act in the best interest of its members all the time.
He further added that NPF was positive that both parties would explore alternative structures for moving forward.