NZ Telecom says AAPT sale is still on.(Telecom Corporation of New Zealand Ltd. acquires AAPT Ltd.)(Brief Article)

Asia Pacific Telecom, February, 2006

Telecom Corp. of New Zealand (TNZ) refuted the news report inferring it has put on hold Australian subsidiary AAPT's sale. AAPT is a fixed-line telecom operator in Australia. The report pointed to the difference between the valuation of the parent company and what the possible suitors willing to pay. During mid-December 2005, TNZ announce that by mid-January 2006, it would finalize the partial or full divesture of AAPT. The possible sale of the Australia firm has been making rounds for months, and SP Telemedia, SingTel, and Macquarie Telecom Group are said to have evinced interest in the acquisition.

AAPT's performance in Australia has been lukewarm since its entry in 2000. Earlier, analysts had disapproved of the New Zealand company's entry, citing its poor...

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