Bloomberg, 14 Sep 2011Pacnet Ltd., an operator of undersea phone and Internet cables in Asia, said it could spend $100 million to $500 million on acquisitions in Asia as it considers a listing in the next two years.
The acquisition outlook hasn’t been affected by the market slowdown because valuations are lower, Chief Executive Officer Bill Barney said at a media briefing in Singapore today. The company, which is based in both Hong Kong and Singapore, expects to trade its shares on the Nasdaq Stock Market if it proceeds with an initial stock sale, he said. Full story
