Singapore's Singtel weighing options for Australia Optus fiber assets, according to sources

SINGAPORE, Jan 10 (Bloomberg): Singapore Telecommunications Ltd. is considering options including a potential stake sale in the fiber assets of its Australian subsidiary SingTel Optus Pty, people familiar with the matter said, a deal that would follow last year’s disposal of its mobile phone towers unit.

Singtel, as the Singaporean phone-services provider is known, has held talks with potential advisers to prepare for a strategic review of the Australian fiber business, the people said, asking not to be identified because the information is private.

Options for the assets, which could be worth a few billion dollars, include a potential stake sale, partnership with an investor or a sale and lease back, the people said. Deliberations are preliminary and there’s no certainty that the review will lead to a transaction, the people said.

A representative for Singtel declined to comment.

A deal would help Singtel raise cash and boost growth amid increasing investor demand for digital infrastructure businesses, the people said. In October, the company sold a majority stake in the mobile phone towers unit of Optus to pension manager AustralianSuper Pty for about A$1.9 billion ($1.4 billion).

Singtel, which offers mobile, broadband and TV services as well as business-oriented solutions for companies, has a presence across Asia, Australia and Africa.

In the half year ended Sept. 30, Singtel’s earnings before interest, tax, depreciation and amortization rose 1% to S$1.93 billion ($1.4 billion), while revenue grew 3% to S$7.65 billion. In Australia, Optus reported Ebitda climbed 5%, boosted by its mobile business. - Bloomberg

Article type: free
User access status:
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Singapore , Optus , Australia , Options , Purchase , Fiber , Assets


Next In Aseanplus News

Girls’ bodies in Cambodia river bank collapse found
S. Korea President to support Biden’s new economy grouping
Flash-flood warning across Thailand as monsoon blows in
Myanmar reports four new Covid-19 cases
BandarKu Ceria programme returns to Brunei capital
In Indonesia, climate change takes a bite out of apple crops
SEA Games: Mohd Khairi gets second silat gold for Malaysia
Thailand records 5,238 Covid-19 cases and 40 deaths
Indonesia's Pertamina to repair unit at Balikpapan refinery after fatal fire
Asian stocks up but investors fear recession

Others Also Read