Stuart Condie

Australia Backs $1.6 Billion Buy of Pacific Mobile Networks

Australia is backing the purchase of mobile networks in six Pacific countries, a move that foreign-policy experts say is designed to block a military rival from buying the strategically important assets. The government said its export-finance arm agreed to provide $1.33 billion in funding to support the $1.6 billion purchase by Telstra Corp, Australia’s biggest communications provider, of the networks in Papua New Guinea, Fiji, Nauru, Samoa, Tonga, and Vanuatu.