Radio New Zealand - Te Reo Irirangi o Aotearoa

AAPT options under review by Telecom

Updated at 4:39 pm on 30 July 2010

Telecom is considering its options for its underperforming Australian arm, AAPT, and has sold its stake in another Australian phone company, Macquarie Telecom, for $A9.9 million.

An Australian newspaper reported the Australian Internet provider iiNet is close to a deal to buy AAPT's consumer business, after an offer from TPG Telecom for the entire company fell through.

Trading in iiNet's shares has been halted pending an announcement on a possible acquisition.

Telecom shares have gained 3 cents to $1.99.

Copyright © 2010, Radio New Zealand