New Zealand's richest man Graeme Hart may attempt a takeover of troubled Telecom Corp after its recent share price slide, a report said.
There have been rumors that Hart, whose Australian business Burns Philp has a 3.5 bln nzd cash pile, may attempt to take over New Zealand's largest listed company, the Dominion Post newspaper reported.
Telecom chairman Rod Deane announced yesterday he would resign at the end of this month following government moves to force Telecom to open up its network to competitors. The government action last month saw the company's market value drop by more than two bln nzd.
Hart is said to be looking at both Telecom and Australian-based brewer Lion Nathan, although he declined to comment, the newspaper said.
By mid-afternoon, Telecom shares were 0.08 nzd higher at 4.57 on the New Zealand Stock Exchange
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