Leighton telco assets up for sale

Leighton Holdings considers NextGen Networks, Metronode and Infoplex "non-core."

Leighton Holdings has said it’s taking offers to sell its telco subsidiaries NextGen Networks, Metronode and Infoplex. The company has received “a number of unsolicitied inquiries,” for what it sees as “non-core” assets, said CEO Hamish Tyrwhitt.

The potential sale does not mean Leighton is backing out of the telco sector altogether, according to Tyrwhitt. Maintenance and field services in the telecom sector aren’t dependent on ownership of telecom assets, he said.

“We remain absolutely committed to this sector of the market” through subsidiaries Visionstream, Silcar and John Holland Communications, he said. “A divestment of the non-core assets would enable us to continue to provide those services to the telecommunications sector without owning infrastructure.”

Leighton has retained Macquarie Capital to manage the potential sale process. “However, we will not sell these assets unless there is a compelling value creating proposition for our shareholders,” Tyrwhitt said.

Nextgen Networks owns an 18,000km fibre optic network in Australia. Metronode operates six data centres, and is currently planning or constructing four more. Infoplex sells private cloud and managed hosting services.

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