(MENAFN) Australia's telecom giant Telstra said it has agreed to acquire Asia's Pacnet for a value of USD697 million, marking one of its largest acquisition to date, AFP reported.
The acquisition, which includes Asia's biggest private owner of submarine communication cables's interests in its China joint-venture PBS, is expected to be completed by mid-2015.
"Asia is an important part of our growth strategy. We believe this acquisition will help us become a leading provider of enterprise services to multinational companies in the region," Telstra chief executive said.
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