SamoaTel Share Capital Auctioned to Private Investor News Feed

The Government of Samoa conducted an open and transparent auction of 75 percent of share capital in SamoaTel Limited resulting in an offer of $11 million  from AST Telecom LLC from American Samoa. SamoaTel is the national telecommunications company, provider of mobile and fixed telecommunication services in Samoa.

The auction took place on January 21, 2011 in a public ceremony attended by the Prime Minister, members of the Cabinet of Ministers, representatives from the Privatization Steering Committee (PSC), SamoaTel, and the private sector. The price offered by AST Telecom amounts to nearly two percent of Gross Domestic Product, constituting the largest privatization sale in Samoa.

Nathan Associates advised the PSC on due diligence, valuation, sales strategy and promotion, and the tender process.

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