Vodafone on Tuesday announced that it has sold its 49% stake in Vodafone Fiji for F$160 million (£51 million) in cash.

The U.K.-based operator offloaded the shares to local financial institution the Fiji National Provident Fund.

The remaining 51% stake in Vodafone Fiji is held by another Fijian company Amalgamated Telecom Holdings (ATH), which also owns incumbent operator Telecom Fiji and international operator Fintel.

Although it has sold its stake in the mobile operator, Vodafone said it expects to retain a presence in Fiji through a Partner Market agreement. The telco has partnerships in place with a number operators throughout the world, some of which use the Vodafone brand.