BeMobile Gets US$88mn Loan For Re-Launch


News: Papua New Guinea's Independent Public Business Corporation (IPBC) secured funding worth US$88mn from Melbourne-based Australia and New Zealand Banking Group (ANZ) for the relaunch of Papua New Guinea-based mobile operator BeMobile. The loan will be used for co-financing IPBC's 51% equity contribution in the joint venture, according to State Enterprise and Public Investment Minister, Ben Micah. BeMobile is under the management of Vodafone Fiji. Micah has welcomed ANZ's decision and praised the firm for showing confidence in IPBC's management.

This article is tagged to:
Sector: Telecoms
Geography: Papua New Guinea

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