Fiji Television, a subsidiary of Fijian Holding, closed the deal yesterday with the sale of Media Niugini Limited for K20 million to Telikom PNG, a State-owned enterprise.
This means the company is now fully-owned by the people of Papua New Guinea, after it provided the balance of payment yesterday.
The Fiji Times Online reports, Telikom P-N-G paid a deposit of K2 Million in December last year, and had signed a document yesterday that it had provided the balance of payment.
Fiji Holdings Chief Executive, Nouzab Fareed, confirmed it officially handed over the company yesterday, with much relief that they are giving the company back to the people of P-N-G.
Telikom P-N-G Chief Executive Officer, Michael Donnelly, says they are extremely happy to conclude the transaction.
The two companies will continue their relationship in production, re-broadcasting and purchasing of content, among others.
Mr Donnelly says, the new deal would bring additional benefit for the two countries.