In Brief: Telecom N.Z. not ready to sell AAPT unit
May 5, 2006New 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.
Copyright 2006 by United Press International
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