Singapore Telecommunications (Singtel) confirmed on July 30 that it was in discussions with multiple parties over a potential stake sale in its Australian telecoms unit Optus, but said there was no certainty the talks would result in a deal.
Optus, Australia’s second-largest telecommunications provider, has been owned by Singtel since 2001.
Optus has faced heightened scrutiny since two outages involving Australia’s emergency call service that affected thousands of users and were linked to four deaths.
The incidents led to the departure of two senior executives, including the company’s finance chief.
In May, Singtel said it was open to bringing in an Australian minority partner for Optus while reaffirming its commitment to the country’s second-largest telecommunications provider.
Reuters reported in March 2024 that Singtel was in advanced talks to sell a significant stake in Optus to Brookfield Asset Management, although the company denied there was any imminent deal to sell the telecom operator. REUTERS
