Goldman helping Telecom with AAPT

Options for struggling Australian subsidiary studied

Goldman Sachs JBWere is advising Telecom as the company examines the future of its struggling A$550 million Australian business, AAPT, the Australian Financial Review reported.

It is understood the investment bank has been working since before Christmas to assess how the performance of the division can be improved and whether it should be sold, broken up or floated. Goldman advised Telecom on its $2.24 billion sale of directories business Yellow Pages in 2007.

AAPT is Australia's third-biggest fixed-line telephone company after Telstra and Optus but, unlike its larger rivals, it lacks a mobile phone network.

Read more on BusinessDay.co.nz

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