"In October 2021, Digicel announced the sale of its Pacific...

"In October 2021, Digicel announced the sale of its Pacific operations to Telstra Group, an Australian telecommunications company.
The sale was estimated at US$1.6 billion.
However this was thrown into doubt in March 2022 when the Papua New Guinea government imposed a retrospective tax of over $100m on the company.

Telstra has completed its takeover of Digicel Pacific on behalf of the federal government, which funded the $US1.6 billion ($2.4 billion) deal fearing it may be picked up by a Chinese state-owned entity and used for espionage. Inherited from the Morrison government, the new Anthony Albanese-led government confirmed it had contributed $US1.33 billion to the buyout and Telstra a far more modest $US270 million. However, Telstra will get all the ordinary equity and priority dividend payments under the sweetheart deal.

In September 2022, credit rating service Fitch issued a warning of a potential debt default. The Irish Times suggested "there's little or no equity value in Digicel to chase". On September 11, 2023, Digicel Group filed for Chapter 15 bankruptcy in the United States Bankruptcy Court for the Southern District of New York."

So basically... the Australian taxpayer takes over a failing company just so the Chinese can't have it. And EM1 who continues to kick goals has partnered with that company.

Don't worry though.. 1c is definitely the floor of this share price, it can only go up.