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Telstra in Talks to Buy Pacnet

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Telstra on Wednesday confirmed it is talks to acquire submarine cable operator Pacnet.

The disclosure was made to the Australian stock exchange after Bloomberg reported the companies were holding negotiations.

Acquiring Pacnet would give Telstra a 46,000 kilometre-long cable network and more than 110 PoPs around the world.

“There is no certainty that any transaction will take place as a result of these discussions,” said Damien Coleman, Telstra’s company secretary, in the stock exchange filing.

Even so, Telstra’s general counsel Paul Abfalter recently told Total Telecom that the Australian incumbent is looking to grow its presence in Asia and would consider “the right asset coming up at the right price”. Original post at Total Telecom

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Wahengbam Rorrkychand

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Website: http://www.blog.tonsetelecom.com

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