Telecom confirms AAPT negotiations

Telecom Corp today confirmed it had been in talks with unnamed third parties about the possible sale of Australian unit AAPT but added no deal was on the table.

Telecom had been approached recently by other parties regarding a possible sale of its Australian business or the possibility of forming a business alliance, spokesman Philip King said.

"Some engagement has been occurring, however there is no proposal on the table and we remain open to consider alternatives as and when they arise," Mr King said.

He said the Australian market was "dynamic and characterised by change".

Telecom shares were up 16c, or 2.7 per cent, to $6.10, shortly after the announcement.

- NZPA