HONG KONG Jan 28 Giant Canadian pension fund Ontario Teachers' Pension Plan has emerged as a final-round bidder for the Australian fibre-optics business of Leighton Holdings Ltd, according to sources with knowledge of the matter, a business that analysts have said could fetch as much as A$870 million ($908.15 million).
The $117.1 billion fund, Canada's largest single-profession pension plan, is lining up against Australia's TPG Telecom Ltd to bid for Leighton's NextGen business, the sources said.
Hong Kong telecommunications company PCCW Ltd is also preparing a bid of around $300 million for two smaller data businesses, Metronode and Infoplex, two separate sources said.
Officials at PCCW and the pension fund declined comment. Officials at TPG Telecom and Leighton Holdings could not be reached for comment. The sources could not be named as the process was confidential.