(Digital Marketing Agency, thesnsgroup.com)- Australia's
Telstra Corporation Ltd, the largest telecom services and media provider
in the country, confirms it has splash out a whopping $697 million to
acquire undersea cable operator Pacnet Ltd as it aims to expand its
business in Asia.
According to Telstra, the deal will see the company
own Singapore- and HK-headquartered Pacnet’s range of services, including an
expanded data centre network, more submarine cables and major customers across
the region.
The transaction is subject to regulatory and Pacnet
financier approvals and is expected to complete by mid-2015.
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