pmc ( http://sourceforge.net/projects/perlmudclient/ ) was an attempt to do exactly this. I've spent some of the last week going through it; it uses an older modified version of Net::Telnet to do its connectivity work.
My problem is that Net::Telnet seems to have a blocking interface when a partial line is sent by the server, i.e. a line not terminated by a newline. It has two features that support this (waitfor and its prompt mechanism), because almost all telnet servers have prompts that are not newline-terminated.
MUDs often have "prompts" that are non-standard and vary through the course of the game; the MUD I admin on has a "Your choice: " prompt as its login [it's not just for usernames], and many game features present alternative prompts. So I suspect you'll need to bear this in mind when you go looking for a cross-platform Telnet library!