Singtel explores sale of 30%+ Optus stake in deal worth A$2 billion
What's new: Morrison has a seven-week exclusivity period to pursue the minority stake in Optus, according to the Australian Financial Review.
Singtel is in talks with interested parties to sell a minority stake in its wholly owned Australian unit Optus, as the telecom group looks for a local partner after years of operational setbacks at the carrier. The Australian Financial Review reported that New Zealand-based infrastructure investor Morrison is negotiating to buy more than 30% of Optus in a deal valued at over A$2 billion, or about US$1.4 billion, and has secured seven weeks of exclusivity. Singtel said no deal is certain. A transaction would end Singtel's 25-year run as the sole owner of Australia's second-largest wireless carrier. Optus has been under political and regulatory pressure since a 2022 cyberattack and a nationwide outage last year that disrupted emergency services.