The Japanese telecommunications giant NTT Communications (NYSE:NTT, news, filings) has been very vocal about the expansion of its IP backbone over the past few years. Yesterday they announced they have passed 500Gbps between Asia and Oceania. That compares not so unfavorably with the 630Gbps they are running at between Japan and the USA these days, which was also mentioned.
NTT and its consortium partners recently launched the ASE cable, connecting Tokyo with Singapore as well as points in between with big bandwidth. Some of that bandwidth is undoubtedly powering today's 500Gbps milestone, as the timing is not likely to be a coincidence.
But you know, it's always a bit hard to tell what folks mean by Oceania, as the geographical definition is at best a bit fuzzy. Australia, New Zealand, the South Pacific, and various bits of Southeast Asia of course, but exactly which bits depends on who draws the map. Doesn't matter of course, the point for NTT is that it has a huge network presence in the region as a whole.
I've always thought NTT was the most likely eventual buyer of Pacnet, but they've shown little interest so far in network expansion via inorganic means. Still, they let PC-1 wait for years before finally pouncing - so it could still happen.