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Telecom's struggling Australian subsidiary AAPT remains the only bidder for Australian network company PowerTel after rival Optus failed to throw its hat in the ring yesterday.
But Optus may still enter the fray.
It had been expected that the owner of Optus, Singtel, would make a bid yesterday as it released its third-quarter results to December 31.
ABN Amro analyst Ian Martin said Optus probably would have preferred to make a bid yesterday.
"I am sure they would have liked to but ... it doesn't stop them doing something next week if they haven't worked out the sums yet."
It had been predicted that Telecom's A$357 million ($405.3 million) bid for PowerTel made on January 31 would spark a bidding war with Optus.
Optus may make a bid to prevent PowerTel and AAPT merging and becoming a significant third retail fixed phone line provider.
Telecom, which has a network access agreement with PowerTel, has said it planned to pay A$2.30 a share for the company in a scheme of arrangement which has the support of the PowerTel board.
Chief financial officer Marko Bogoievski has said the acquisition would bring together two complementary businesses.
Observers say a merger with PowerTel is AAPT's best chance to revive its business as it would give it control of Australia's second largest fixed-line broadband network.
Optus, which contributes over two-thirds of SingTel's revenue, posted a 3.9 per cent drop yesterday in operating earnings before interest, tax and amortisation, and net profit fell 15 per cent to A$135 million.
