Papua New Guinea progresses Telikom privatisation

Papua New Guinea progresses Telikom privatisation

The Papua New Guinea Government said it will make a final decision on the partial privatisation of operator Telikom PNG soon.

Acting Managing director David Kavanamur told local publication The National, that the state-owned operator is looking at prices being offered for shares in the company.

“‘The partial privatisation is an ongoing process that’s continuing with potential partners … We have issued an information memorandum and they are continuing to undertake due diligence … We are looking at one partner and hopefully we should complete that. But (it’s) depending on what’s on the table, and what they are offering for the assets being offered on the market. There is a certain price that we are negotiating with the potential buyers,” said Kavanamur.

The operator’s company pension plan has been given priority in the privatisation process as the National Superannuation Fund (Nasfund) was named as one of the entities to carry out due diligence on the deal.

Nasfund chief executive officer Ian Tarutia told The National in December the company had signed an MoU with consortium partners to invest in Telikom. In the same month, the government gave the green light for the sale of Telikom assets valued at 1.4 billion

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