World Economy

Telstra Buys Pacnet

Telstra Buys PacnetTelstra Buys Pacnet

Cashed-up Australian telecom giant Telstra said Tuesday it has agreed to buy Pacnet, Asia’s biggest private owner of submarine communication cables, for US$697 million in one of its largest acquisition to date, AFP said. Headquartered in Singapore and Hong Kong, the company also offers  data-center services to carriers, governments and multinationals across the Asia-Pacific region.