PacNet snubs MediaRing’s advances

1 Jun 2006

Singapore-based telecoms operator Pacific Internet (PacNet) has declined a buyout offer from competitor MediaRing, opting instead to continue as an independent entity while it weighs up other possible merger plans. PacNet’s board took the decision after taking advice from its financial advisor BNP Paribas Peregrine, which recommended that PacNet either continue as it is and forge ahead with plans to transform itself into an IP-based communications provider, or pursue a merger with suitable partners.

Singapore, Pacific Internet (PacNet) Australia, Pacnet