Telecom Corp of New Zealand is reportedly open to the sale of its international wholesale business as well as its Australian subsidiary AAPT.
According to a Reuters report, Telecom NZ is not currently considering any bids for AAPT despite rumours that…
Telecom Corp of New Zealand is reportedly open to the sale of its international wholesale business as well as its Australian subsidiary AAPT.
According to a Reuters report, Telecom NZ is not currently considering any bids for AAPT despite rumours that TPG Telecom, Pacnet, Quadrangle Group and Optus had all submitted bids for the company. There has been speculation that TPG Telecom made an offer of around US$400m for the asset, which Telecom NZ says it would sell if a suitably attractive offer arrived.
In 2009 AAPT generated A$760m (US$700m) in revenue, down from AU$1bn on the previous year. EBITDA was also down by A$27m and stood at A$73m.
Meanwhile, Telecom NZ is understood to be looking for a buyer of a stake or the whole of its international wholesale voice business, which last year had earnings of around NZ$20m before EBITDA. The New Zealand operator wants to retain the data part of the business, however.
Ernst & Young is thought to be advising on the process.