Singtel denies report it is 'exploring options' over Australia unit

The Edge Singapore
1-min read

'No transaction relating to the Optus enterprise business is currently contemplated'

Singtel says it is not mulling any transaction relating to Optus, its Australia unit.

The comment was in response to a Jan 30 report by the Australian Financial Review, “Singtel weighs options for Optus; eyes on enterprise division”, where the telco is "exploring options" to "unlock value" after 23 years of sole ownership.

"Singtel views its stake in Singtel Optus as strategic and believes in the long-term outlook of the Optus business," says Singtel in an announcement via SGX on Jan 30.

As part of its ongoing "strategic reset", the company has drawn up a list of assets it can divest as it balances the need to invest for new growth and reward shareholders with higher dividends.

Singtel "regularly explores and reviews business opportunities, projects and proposals relating to its business and investments from time to time, and there is no certainty any of these will lead to a definitive or binding transaction."

"No transaction relating to the Optus enterprise business is currently contemplated," the telco says, adding it will make relevant disclosures if any and at the appropriate time.

Singtel shares closed at $2.42, up 0.83%.

See Also: