British investors eye Asia Netcom

6 Apr 2006

According to the Financial Times, a group of British investors led by Ashmore Investment Management are planning to buy Asia Netcom for USD354 million. The paper quotes ‘someone familiar with the situation’, saying that the group has signed an MoU giving it 30 days exclusive negotiating rights with the telco. Ashmore already has a significant interest in Asian cable operator C2C, after buying into the former Singapore Telecom unit’s debt last year.

Asia Netcom operates the region’s only privately owned city-to-city fibre optic network, known as EAC. Its platform includes a 19,500km submarine cable system, extensive terrestrial fibre backhaul links and city centre telehouses in many key Asian markets. It delivers a full portfolio of connectivity, data communications and IP-based services to global and regional enterprises, ISPs and telcos in the region, with products and services that range from basic connectivity through to International Private Lines and MPLS-based IP VPNs.

Hong Kong