Telstra acquires Pacific telecom in joint venture with government

Published

3 years ago

October 25, 2021

The Australian government and telecom giant Telstra are buying Digicel’s Pacific telecom arm in a $2.1 billion deal

Digicel Pacific employs almost two thousand people, and services a number of Pacific nations including Papua New Guinea, Fiji, Samoa, Vanuatu and Tahiti.

The future of the firm has been the focus of speculation for several months.

Last year, Digicel denied reports that it was in talks to sell its Pacific arm to state-owned China Mobile after running into serious financial trouble.

Telstra in a statement have called the deal a “unique and very attractive commercial opportunity to boost our presence in the region”.

Analysts, however, are calling the purchase a strategic move, with the Australian government ramping up its presence in the Pacific amid rising tensions with China.

The government has long held national security concerns over efforts by Chinese state-owned telecoms to assert authority in the Pacific.

Earlier this year, the Morrison government held private talks with the Biden administration about working together to stop China buying Digicel’s mobile phone networks in the Pacific and Caribbean.

Why the meme-stock frenzy is unlikely to repeat

Published

5 days ago

May 14, 2024

Nathan Langridge

GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

Money

Why are airlines after the Biden Administration?

Published

5 days ago

May 14, 2024

Nathan Langridge

Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

Money

The mounting pressure on Government spends

Published

6 days ago

May 13, 2024

ticker NEWS

Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending