AAPT unit may be sold
New Zealand's Telecom Corp has confirmed it is considering selling off its AAPT unit in Australia as it transforms into a service-based telecommunications operator.
But Telecom has not commented on a report it may sell its stake in mobile business Hutchison Telecommunications Australia. The Auckland-based company is considering a possible sale of AAPT, but had not made any final decision, it said in a statement.
Fairfax Media on Tuesday reported Telecom was also looking to sell its 10 per cent stake in HTA, which in turn owns half of Vodafone Hutchison Australia. But Telecom's statement on Tuesday did not touch on that possibility.
At the start of the year, Telecom chief executive Simon Moutter signalled a dramatic shift in Telecom's strategy away from being an infrastructure player and targeting mobile and data applications to drive revenue growth.
Analysts have said the sale of AAPT could fetch up to $400 million if it achieved a similar earnings multiple as the sale of Nextgen Networks.