Singtel, the Singaporean telecommunications giant, has firmly dismissed recent reports suggesting a potential sale of part of its Australian arm, Optus, to Brookfield for a staggering A$16 billion. In a clear statement, Singtel stated, “There is no impending deal to offload Optus for the said sum, as reported. Optus remains an integral and strategic part of the Singtel Group, and we are committed to Australia for the long term.”
While refuting the specific claims of an imminent sale, Singtel did acknowledge its ongoing commitment to reviewing its portfolio to optimize asset value. The company emphasized that any material developments would be promptly communicated to shareholders in accordance with its listing obligations.
Singtel’s ownership of Optus spans more than two decades, with the Australian subsidiary serving as a critical revenue and earnings generator for the Singaporean conglomerate. Optus holds the position of Australia’s second-largest telecommunications group, underlining its strategic importance within Singtel’s broader business framework.
The initial report, published by the Australian Financial Review, had indicated advanced negotiations between Singtel and Brookfield. Sources suggested that Brookfield might bring in a consortium for the deal, with CPP Investments being named as a potential participant.
Despite these reports, Singtel’s firm denial underscores its commitment to maintaining a strong presence in Australia’s telecommunications sector. As the situation evolves, Singtel remains focused on maximizing shareholder value while ensuring the long-term success of its Australian operations.
(Source: Bloomberg | Reuters | Telecoms)
