merger, page-9

Telecom New Zealand

The nations number three telco carrier AAPT could be sold off, with Telecom New Zealand describing the business as non-core and saying it would give very careful consideration to any offer thats in shareholders interests. The subsidiary - now valued at $NZ500 million, about half the previous asking price - is said by the Fin to have received an approach from private equity, although other obvious potential suitors include Vodafone Hutchison Australia and Optus-owner Singapore Telecommunications