A market announcement from the company yesterday said the formal approval was given by the Office of the Regulator in Samoa in accordance with Section 31 of the Samoan Telecommunications Act, consenting to the transfer of control to ATH.

It said as per the sale and purchase agreement, execution of the sale was subject to the usual conditions including obtaining of appropriate local consents, licenses and permits from respective governments and regulatory authorities.

Meanwhile the company is still waiting for formal regulatory approvals and consents for American Samoa and Cook Islands.

According to the financial statements released by ATH last week, the company on September 23, 2016 had entered into a Sale and Purchase Deed (SPD) with Spanish company Amper SA and Elandia International Inc. of the US.

This deal included the primary transaction for ATH’s acquisition of 100 per cent of the issued share capital in AST Telecom LLC of USA and 100 per cent of the issued share capital in eLandia Technologies Inc. of US for a purchase price of circa $US79 million ($F161.52m).

The principal activities of these entities are telecommunication services in Samoa, Cook Islands, New Zealand and American Samoa, through a number of subsidiary entities in US and these other countries (collectively referred as Bluesky Group).

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