Mauritius Telecom (MT) is pleased to announce the purchase of 50% of the shareholding of the leading telecommunications operator in Vanuatu, Telecom Vanuatu Ltd (TVL), on the 12th October 2011, by MT International Ventures Ltd (MTIV), an investment vehicle wholly owned by Mauritius Telecom.

TVL is the only converged telecommunications operator in Vanuatu offering fixed, mobile and broadband services. The above shareholding has been purchased from Cable & Wireless Communications (CWC). France Cables & Radio (FCR) continues to hold the remaining 50% of TVL.

The Boards of TVL, MT and MTIV, as well as the concerned authorities in Vanuatu, have given their approval to the completion of the above transaction.

The acquisition is part of Mauritius Telecom’s strategy to develop its activities outside Mauritius and grow inorganically, thereby adding value to Mauritius Telecom. Over the years, Mauritius Telecom has acquired significant experience in bringing forward and operating state of the art technology, in the fixed, mobile and broadband domains. This has allowed Mauritius Telecom to support the introduction of new services and improve the quality of service for its customers. With this acquired experience, Mauritius Telecom is well poised to operate new telecom ventures outside Mauritius.

Commenting soon after the acquisition in Vanuatu, Sarat Dutt LALLAH, MT CEO, said:
“We believe that our experience and leadership in Mauritius in delivering world class fixed, mobile, broadband and converged services, in an environment similar to what we have in Mauritius, i.e. a small island state, focused on growth of tourism sector and telecommunications acting as a catalyst for growth in other sectors of the economy, will be an asset to the people of Vanuatu, its business community and TVL. For MT, this represents an opportunity to grow outside Mauritius and derive a new revenue stream.

In line with its investment strategy, MT is working on other opportunities which we hope will be followed by new acquisitions or equity participation in other telecom operations, in the months to come. By growing outside the shores of Mauritius, Mauritius Telecom would give new opportunities to its employees to enhance their skills and embrace careers abroad.
We would like to thank the Government of Mauritius and the Board of MT as well as the Government of Vanuatu, its regulator and other authorities for making the transaction possible.

We rely on the support of FCR, our co-shareholder in TVL, as well as that of all employees of MT and TVL to make this venture a success.”