AAPT waits for Telecom NZ moves

AAPT is playing a waiting game when it comes to discovering Telecom New Zealand's true intentions regarding ownership of the Australian carrier.

"We'll wait and see what comes to the table," said an AAPT spokesman yesterday, in response to the day's press reports that Telecom NZ is looking to acquire a larger stake in AAPT.

The AAPT spokesman said AAPT saw a lot of synergies with Telecom NZ "in a strategic sense", but the question of ownership would be a matter for AAPT shareholders and the board to decide, if and when an offer was forthcoming.

Last month Telecom NZ bought almost 9 per cent of AAPT, increasing its stake to almost 20 per cent and making it the largest shareholder in AAPT.

The move came after Cable & Wireless Optus agreed to drop its hostile takeover bid for AAPT, following a request from the Australian Competition and Consumer Commission that the bid be withdrawn

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More about AAPTAustralian Competition and Consumer CommissionCable & WirelessOptusTelecom New Zealand

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