Telecom sells down Macquarie Telecom stake

 

Fuels speculation of business divide and sell-off.

Telecom New Zealand has sold AAPT's stake in Macquarie Telecom for just under $10 million, fuelling speculation it is about to separate and sell of parts of the Australian business.

The carrier made a brief announcement to the Australian and NZ stock exchanges at midday today.

"Telecom has previously advised that it would consider offers in relation to the AAPT business that are in the best interests of shareholders," the statement said.

"Telecom is currently considering strategic options in respect of these assets.

"As part of this review Telecom has today announced the sale of its stake in Macquarie Telecom for $9.9 million."

The Sydney Morning Herald predicted the sell-off of non-core interests in Macquarie Telecom and iiNet today.

It was predicted that Telecom would keep hold of AAPT's wholesale business and hive off just the consumer broadband division.

This could go to iiNet, which was placed in a trading halt today "pending the announcement of a potential acquisition".


Telecom sells down Macquarie Telecom stake
 
 
 
Top Stories
First look: Microsoft Outlook for iOS
[Update] Office productivity suite for iOS completed with Outlook.
 
NewSat defaults on $26m in overdue Lockheed payments
Jabiru-1 satellite build hits further hurdles.
 
IBM denies plans to cut 112k jobs
But admits to further restructuring.
 
 
Sign up to receive iTnews email bulletins
   FOLLOW US...
Latest Comments
Polls
Who do you trust most to protect your private data?







   |   View results
Your bank
  36%
 
Your insurance company
  5%
 
A technology company (Google, Facebook et al)
  9%
 
Your telco, ISP or utility
  8%
 
A retailer (Coles, Woolworths et al)
  4%
 
A Federal Government agency (ATO, Centrelink etc)
  18%
 
An Australian law enforcement agency (AFP, ASIO et al)
  14%
 
A State Government agency (Health dept, etc)
  7%
TOTAL VOTES: 3086

Vote
Do you support the abolition of the Office of the Information Commissioner?

   |   View results
I support shutting down the OAIC.
  27%
 
I DON'T support shutting the OAIC.
  73%
TOTAL VOTES: 982

Vote