Telstra not involved in HK takeover

Despite admitting it is looking for opportunities to increase its presence in the Asia-Pacific region, Telstra has denied any involvement in the buyout of Cable & Wireless HKT by Hong Kong Internet company Pacific Century CyberWorks (PCCW).

PCCW announced last weekend it has approached Cable & Wireless PLC with a proposal to merge with C&W HKT.

Despite denials from PCCW, it is speculated that the Internet company may have formed an international consortium with the likes of Telstra or Vodafone Airtouch to take on C&W HKT.

"The suggestion [that Telstra is involved] is highly speculated and unsourced. We are not in the habit of commenting on every piece of market speculation," a Telstra spokesperson said.

C&W HKT is Hong Kong's largest telecommunications carrier.