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IiNet Submits Proposal to Split AAPT in Takeover Plan, Australian Says

Iinet Ltd. has submitted a proposal to split the retail and wholesale arms of AAPT, the Australian unit of Telecom Corp. of New Zealand Ltd., and is seeking to buy its consumer business, the Australian newspaper reported, citing unidentified sources close to the sale. Telecom NZ is considering splitting the business and selling the wholesale division into the National Broadband Network after TPG Telecom Ltd.’s bid for all of AAPT failed to win approval, according to the report.

To contact the reporter on this story: Nichola Saminather in Sydney at nsaminather1@bloomberg.net

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