Australia’s Telstra to buy Digicel Pacific in government-backed deal

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Telstra to buy Digicel Pacific in a $1.6bn billion deal, largely funded by the Australian government and seen as a way to contain China’s rising influence in the region

25 October 2021 - 16:57Sydney — Telstra said on Monday it agreed to buy the Pacific operations of telecom firm Digicel Group in a $1.6bn deal largely funded by the Australian government and seen as a way to contain China’s rising influence in the region.

“The Australian government is strongly committed to supporting quality private sector investment infrastructure in the Pacific region.” In recent years, China has provided funding for several Pacific infrastructure projects, increasing debt obligations in some small island nations, and has won international recognition from several countries that had previously aligned with Taiwan.

“Will Telstra be able to take over and run that business in an efficient way that makes money? It’s definitely possible but it will be a challenge.”

 

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