AAPT on the market?

Australian telecommunications provider AAPT could be on the market after parent company Telecom New Zealand confirmed recent approaches to buy the AU$1 billion business and said it was open to further expressions of interest. Telecom New Zealand general manager, communications, Philip King, said the telco had recently been approached "by other parties" about the possible sale of AAPT, or the prospect of forming a business alliance.

Australian telecommunications provider AAPT could be on the market after parent company Telecom New Zealand confirmed recent approaches to buy the AU$1 billion business and said it was open to further expressions of interest.

Telecom New Zealand general manager, communications, Philip King, said the telco had recently been approached "by other parties" about the possible sale of AAPT, or the prospect of forming a business alliance.

"'Some engagement has been occurring, however there is no proposal on the table and we remain open to consider alternatives as and when they arise," King said.

The comments were a response to market speculation after a newspaper claimed that Telecom New Zealand was considering selling the voice and data business.

Telecom New Zealand purchased a 78 percent stake in the carrier in 1999 raising that to 100 percent in December 2000.

Reports have named potential acquirers as Optus, Vodafone and the Macquarie Bank.