Published: 7:54AM Thursday February 01, 2007
Source: Newstalk ZB/One News
An independent telecommunications analyst is hoping Telecom has learnt from its mistakes as it launches another bid to strengthen its presence in Australia.
In an attempt to save its under performing Australian subsidiary AAPT, Telecom is launching a $357 million takeover bid for phone company PowerTel.
Independent telecommunications analyst Paul Budde says the move has been in the pipeline, but he was expecting Telecom to only take a controlling interest in PowerTel.
He says while the move makes sense and should secure Telecom's long-term growth opportunities in the Australian market, Telecom got its fingers burnt and lost money when it initially tried to run AAPT. He is hoping the company has learned from that experience.
Budde says overall, the bid for 100% ownership of PowerTel is a good long-term strategic move by Telecom.
Investors were wary of Telecom's takeover plan, as its shares closed down 10 cents on Wednesday.
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