Fergie's Tech Blog

Down Under: Telcos Consider Acquisition Status of AAPT, Telecom New Zealand

Michael Sainsbury writes on Australian IT:

Telecom New Zealand has received indicative bids for its troubled Australian business, AAPT, amid increasing market speculation that the Kiwi telco may itself be a takeover target.

Bids for AAPT closed last Friday, after TNZ chief financial officer Marko Bogoievski visited Australia last week to hear final pitches of interested buyers.

Lining up for the company are Optus, regional telco Soul, and a consortium of listed telcos Powertel and Commander with the backing of Powertel's parent, Hong Kong private equity group TVG.

Sources said the TVG consortium was emerging as a strong consolidation play with a cash and shares bid that would probably see TNZ left with a stake in a locally listed merged group.

posted by Fergie @ 4/04/2006 06:45:00 PM