Sharechat, 2 Dec 2008, Jonathan Underhill
Telecom, New Zealand's biggest phone company, scotched reports it has been approached by Pacnet with an offer of US$420 million for its AAPT unit in Australia.
Pacnet, formed from the merger this year of Asia Netcom and Pacific Internet planned to finance the offer with cash and equity, Reuters reported, citing a person close to the situation.
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