May 5, 2006

In Brief: Telecom N.Z. not ready to sell AAPT unit

New Zealand Telecom has reportedly backed away from plans to sell its Australian unit, AAPT.

Telecom apparently could not find a suitable buyer for its struggling subsidiary and was not ready to concede defeat in the tough Australian wireless market.

Asia-Pacific telecoms have been circling the waters for several months as AAPT found itself stuck between soft retail prices and high costs for wireless infrastructure access.

Telecom Thursday reported third-quarter earnings for AAPT down 8.1 percent, although operating expenses fell 5.7 percent to $329 million.

Citation: In Brief: Telecom N.Z. not ready to sell AAPT unit (2006, May 5) retrieved 20 September 2024 from https://phys.org/news/2006-05-telecom-nz-ready-aapt.html

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