Pacnet looking to acquire

Asia-pacific telco Pacnet this week declined to confirm or deny its reported US$420 million bid for Telecom New Zealand subsidiary AAPT, saying only that it has been searching for buying opportunities in the region.

in brief Asia-pacific telco Pacnet this week declined to confirm or deny its reported US$420 million bid for Telecom New Zealand subsidiary AAPT, saying only that it has been searching for buying opportunities in the region.

"Pacnet has an aggressive growth strategy and will continue to explore various opportunities around the region to further strengthen our corporate portfolio," a spokesperson for the telco told ZDNet.com.au, adding that any acquisitions or partnerships would be announced at an "appropriate" time.

Telecom New Zealand and AAPT have also declined to comment on whether a bid for the telco had taken place.

According to Reuters, who broke the news on the possible takeover, Pacnet wanted to buy AAPT to round out its Asia network as it looked to list in the future.

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