Amcom confirms Telecom NZ talks

Amcom confirms Telecom NZ talks

Summary: update Perth-based telco Amcom today confirmed it had held discussions -- at some point -- with Telecom New Zealand, but not about a possible acquisition scenario. The Sydney Morning Herald reported last week that Telecom had approached Amcom with a friendly takeover offer of up to AU$80 million.

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update Perth-based telco Amcom today confirmed it had held discussions -- at some point -- with Telecom New Zealand, but not about a possible acquisition scenario.

The Sydney Morning Herald reported last week that Telecom had approached Amcom with a friendly takeover offer of up to AU$80 million.

Late today, Amcom said in a clarifying statement to the Australian Stock Exchange (ASX) that it had not talked to Telecom NZ about a transaction involving the two parties, although it had discussed other matters.

In an earlier statement also issued today, Amcom said: "At the request of the ASX, Amcom would like to confirm that from time to time it has discussions with various other companies within the telecommunications sector, including but not limited to Telecom New Zealand, regarding inter-organisational services and also industry rationalisation."

The telco added it will make an announcement if any such discussions led to a definite transaction involving the company -- for example, a merger or acquisition.

In addition, Amcom clarified that it currently held a 19.9 percent stake in fellow Perth telco iiNet. Telecom stands to gain 17 percent of iiNet through a pending acquisition of Australia's PowerTel, a business and wholesale telco.

Amcom chief executive Eddy Lee declined to reveal the timing of the Telecom NZ talks.

Topics: Telcos, Broadband, AAPT, New Zealand, NBN

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