December 17, 2014 / 4:57 AM / 3 years ago

Telstra in talks with Pacnet for potential acquisition

SYDNEY, Dec 17 (Reuters) - Australia’s largest telecom services provider Telstra Corporation Ltd on Tuesday said it was in talks with the owners of Pacnet Ltd to buy the undersea cable operator.

Earlier Bloomberg had reported, citing a source, that the two companies were nearing an agreement, in a deal that would give Telstra ownership of more than 46,000 kilometers (29,000 miles) of submarine cable between Asia and the United States. (bloom.bg/1zq5N4e)

“There is no certainty that any transaction will take place as a result of these discussions,” Telstra said in a statement, in response to the Bloomberg story.

Reporting by Swati Pandey; Editing by Stephen Coates

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