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International

Leighton looks to sell its telecommunications companies

Leighton Holdings is looking for buyers for three of its telecommunications companies.
Written by AAP , Contributor and  Michael Lee, Contributor on

Leighton Holdings is looking to sell its phone and internet infrastructure assets.

Leighton owns three telecommunications companies that have their own cable and data networks — Nextgen Networks, Metronode, and Infoplex.

Nextgen Networks was responsible for completing the Regional Backbone Blackspots Program, which was a bid to accelerate the roll-out of fibre to regional areas.

Metronode has a large role in the datacentre plans for Victoria and NSW. Earlier this year, it secured a AU$182 million deal to construct two datacentres for the NSW Government, and has previously constructed a AU$150 million datacentre, called M2, in Derrimut, Victoria.

Infoplex represents Leighton's foray into cloud hosting, storage and managed applications.

After a review of those assets, Leighton intends to explore the potential sale of each, chief executive Hamish Tyrwhitt said.

A number of unsolicited inquiries about those businesses have already been received, he said.

Tyrwhitt said that Leighton will remain committed to the telecommunications sector through other subsidiaries that carry out design, installation and maintenance work.

"A divestment of the non-core assets would enable us to continue to provide those services to the telecommunications sector, without owning infrastructure," Tyrwhitt said in a statement today.

Leighton's other technology subsidiaries Visionstream and Silcar will remain with the company. These two companies are largely responsible for work related to the NBN, with Visionstream's work including responsibility for the remainder of the NBN roll-out in Tasmania and connecting new housing developments to the NBN.

Silcar shoulders part of the responsibility of maintaining the NBN and constructing the fibre network in Queensland, NSW, and the ACT.

The sale comes as Leighton recovers from its lowest share price in about six years.

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