Telstra in talks to buy cable operator
Telstra is in talks to acquire Pacnet, an operator of undersea cables.
The companies are nearing a deal that would hand Telstra ownership over some 46,000kms of submarine cable between Asia and the US, Bloomberg reported on Wednesday.
• Woodside defends $4 billion expansion deal
Telstra company secretary Damien Coleman confirmed the discussions in a statement, but said there is “no certainty” a transaction will take place.
Shares in Telstra were seven cents higher at $5.79 at 1534 AEDT.
Advertisement
Finance News
Home prices decline as Feb rate cut hopes dashed
Finance News
Ten common mistakes that void travel insurance
Finance News
Woolies workers strike over wages, conditions
Finance News