Amalgamated Telecom Holdings Limited was incorporated as a public company on 10 March 1998, as a vehicle through which the Fiji government's investments in the telecommunications sector was consolidated for the purpose of privatisation under its public sector reform programme.

ATH commenced operations on 16 December 1998, following the sale of a 49 per cent strategic stake in the company to the Fiji National Provident Fund (FNPF) as part of a tender in which a number of international parties participated.

The FNPF subsequently consolidated its control of ATH in September 1999 after it acquired a further two per cent of the issued shares in accordance with contractual obligations. Government's shareholding as a result, was reduced to 49 per cent.

In February 2002, Government sold a further 9.7 per cent of its shares through a Private Placement with institutional investors, including the FNPF which acquired further shares. An additional 4.7 per cent of Government's shares were sold in a Public Offer a  month later. Government is currently ATH's second largest shareholder with 17.29 per cent interest, while the FNPF is the largest shareholder with 72.25 per cent.