Business Services Industry
Optus faces a fight for AAPT.
Australasian Business Intelligence, October, 2005
Byline: Michael Sainsbury
Oct 12, 2005 (The Australian - ABIX via COMTEX) -- Singtel Optus has expressed interest in buying AAPT from Telecom Corporation of New Zealand (TCNZ). The Australian telco is believed to want to acquire the 70 per cent in AAPT that it does not already own via its joint venture with Virgin Mobile. Talks
between Optus and TCNZ are thought to be at a preliminary stage. However, on 12 October 2005, TCNZ told the Australian Stock Exchange that it has been approached by "other parties" that are also interested in the asset. As yet, a formal proposal has not been presented. Analysts estimate AAPT to be worth approximately $A800 million.
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