By Chris Donkin
Operator Singtel dismissed media reports claiming it was considering a public listing of Australian subsidiary Optus, describing the articles as highly speculative.
In a stock market statement, the Singapore-based company responded to reports published June 27 in newspapers The Australian, The Business Times and related stories.
The operator group clarified it had no plans to list the unit, stating Optus had become a significant part of its business.
“Singtel regularly reviews its strategies to optimise the value of its businesses,” the company added. “If, and when, there is any information that warrants disclosure, Singtel will, in compliance with applicable rules, make an announcement as appropriate.”
Media reports claimed Singtel had investment banks working on a potential IPO of Optus shares on the Australian stock market. The Australian pinned the potential value of a sale at above AUD8 billion (US$5.5 billion).
Rumours on the future ownership structure of Singtel’s business in Australia come weeks after the company announced it would transfer management of Optus Enterprise to its division in the country.
The move was touted as boosting the division’s autonomy and is part of a wider “strategic reset” of Singtel’s operating model.
