The country’s second-largest telco group has had a difficult two years after a nationwide outage and a major cyberattack.
Singtel is in advanced discussions to sell Optus, Australia’s second-largest telecommunications group, to Toronto-headquartered private equity giant Brookfield in what would be a blockbuster deal worth some $16 billion, Street Talk can reveal.
Should a deal be signed, it is expected to value Optus at between $16 billion and $18 billion. It would spell a big payday for Singtel after more than two decades of ownership. A Brookfield spokeswoman declined to comment.However, Optus’ scale in mobile and internet connections – which are modern day critical infrastructure – would mean the regulators will put any buyout proposals under the microscope.
Optus reported $S1.8 billion operating revenue for the December quarter, down 5.4 per cent over the same period in 2022. Its earnings before interest, tax, depreciation and amortisation dropped 1.8 per cent to $S465 million. Accounting for currency fluctuations, however, December quarter EBITDA was up 1.7 per cent, the Singtel accounts showed.after the outage, Optus’ revenue from selling mobile services still rose 3.4 per cent to $996 million over the quarter. It has about 10.
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