Telecom completes $A450m sale of AAPT to TPG
Telecom New Zealand has completed the sale of AAPT to TPG for $A450 million.
Telecom New Zealand has completed the sale of AAPT to TPG for $A450 million.
Telecom has entered into a binding agreement to sell AAPT for A$450 million to TPG Telecom Limited. The agreement is free of conditions and is expected to be complete by 28 February 2014.
Internet service provider AAPT has been issued a formal warning by the Australian Communications and Media Authority (ACMA), following an investigation into a data breach in July 2012 which hacktivist group Anonymous claimed credit for.
AAPT announced it has agreed to acquire the Nextep DSL business from NEC Australia. The deal is part of a long-term partnership between AAPT and NEC, AAPT said.
Telecom has announced that David Yuile has been appointed CEO of Telecom’s Australian business, AAPT.