Deals
Pacnet May Seek Takeovers of Up to $500 Million, CEO Says
This article is for subscribers only.
Pacnet 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.
“Where the markets are right now, it’s actually not a bad time for us to explore opportunities,” Chief Executive Officer Bill Barney said at a media briefing in Singapore today. “We technically like companies in the $100 million to $500 million dollar size. We bought Pacific Internet for $120 million dollars.”