Telikom PNG Limited has sold the wholesale telecommunications assets to PNG DATACO LIMITED according to a statement issued by PNG DataCo.
PNG DataCo claims that since its inception, the company has pursued government policy decisions to build and operate the National Transmission Network (NTN).
|Telikom PNG sells its wholesale telecommunications assets to PNG DataCO|
According to the statement, the NTN will include existing wholesale infrastructure to be transferred from PNG Power, Telikom PNG and IPBC, as well as newly built transmission infrastructure.
The wholesale infrastructure of PPL and IPBC was completed in 2015, while the wholesale assets of Telikom took around 7 years before the eventual transfer today in a small but historic event chaired by the Minister of Public Enterprises and State Investments, Hon. William Duma, Acting Kumul Chairman of Consolidated Holdings, Moses Maladina and Acting Managing Director of Kumul Consolidated Holdings, Professor David Kavanamur, Acting CEO Telikom PNG, Amos Tepi and senior officials.
Although the transferred assets were originally acquired in 2016, Telikom was unable to transfer the assets due to loan covenants with ANZ. Telikom and DataCo have entered into a Wholesale Business Transfer Agreement and a Right of Use Agreement allowing DataCo to use the assets to ensure government policy decisions on wholesale reforms are carried out .
PNG DataCo CEO, Mr. Paul Komboi, said the transfer will allow DataCo to focus on consolidating these assets and planning their upgrade and modernization to ensure a cost-effective and reliable wholesale service offering. retail service providers.
“DataCo will now have the infrastructure assets on our balance sheet, allowing us to effectively monetize and secure as critical and strategic national infrastructure”
Photo credit: PNG DataCo
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