­Telekom Malaysia has denied media reports that it is seeking approval to acquire the local broadband service provider, Packet One Networks from its parent Green Packet.

"TM wishes to highlight that the article is misleading as it is based on speculation. TM has not announced any interest to bid for the stake nor seek any approval to do so," the company said in a stock market filing.

The company did however say it is always in search of value creating opportunities as part of its strategy.

Green Packet has confirmed that it is exploring strategic alternatives for P1, including the possibility of a merger, consolidation or sale.