TPG Telecom, PCCW and Canadian pension fund line up for NextGen Networks

30 Jan 2013

With Australia’s Leighton Holdings having announced back in September 2012 that it was to sell off its telecoms infrastructure unit NextGen Networks, Reuters reports that Canadian pension fund Ontario Teachers’ Pension Plan is one of three companies thought to be vying for the outfit. The report suggests that alongside the pension fund, Australian alternative telco TPG Telecom and Hong Kong’s PCCW Ltd are both also set to bid for NextGen Networks, in a deal that analysts have suggested could raise as much as AUD870 million (USD908 million). Further, it is claimed that PCCW is also considering a bid for two other companies that Leighton aims to divest, those being data services providers Metronode and Infoplex; a deal for the duo has been valued at around AUD300 million. It is understood that bidders have until 9 February 2013 to submit any offers.

Australia, Nextgen Networks, PCCW Group, TPG Corporation (incl. iiNet, Internode and AAPT)