Australian contractor said Leighton Holdings Ltd it is in discussion with Ontario Teachers' Pension Plan to sell 70 percent of its telecommunication assets for 885 million AUS dollars.

The telcom assets include two data center facilities and its NextGen Networks fiber-optic business.  Hamish Tyrwhitt, CEO, said in a statement that the price of the deal created proposition for company shareholders.

According to sources, Ontario Teacher's Pension Plan, the largest single-profession pension plan in Canada, had been in competition with TPG Telecom Ltd for the NextGen business bid.

Reportedly, telecommunications firm PCCW Ltd. from Hong Kong had also showed interest in acquiring the two data business.