Telecom will not make any further comments about the sale of its Australian business AAPT, other than to confirm it is on the block.
It is not the first time the Australian corporate telecommunications provider has been up for grabs.
In 2010, Australian Internet provider iiNet bought AAPT's consumer business, after an offer from TPG Telecom for the entire company fell through.
At the time AAPT was estimated to be worth $A400 million.
First NZ Capital analyst Greg Main says a sell-off of the business fits within Telecom's strategy of focussing on its home market.