Advertisement

Telstra in talks to buy cable operator

Telstra is in talks to acquire Pacnet, an operator of undersea cables.

The companies are nearing a deal that would hand Telstra ownership over some 46,000kms of submarine cable between Asia and the US, Bloomberg reported on Wednesday.

• Woodside defends $4 billion expansion deal

Telstra company secretary Damien Coleman confirmed the discussions in a statement, but said there is “no certainty” a transaction will take place.

Shares in Telstra were seven cents higher at $5.79 at 1534 AEDT.

Stay informed, daily
A FREE subscription to The New Daily arrives every morning and evening.
The New Daily is a trusted source of national news and information and is provided free for all Australians. Read our editorial charter
Copyright © 2024 The New Daily.
All rights reserved.