SingTel Optus in talks for broadband company Uecomm

20 May 2004

Australia’s second largest telecoms services provider, Singapore Telecommunications-backed Optus, is believed to be in talks to acquire a 66% stake in broadband services provider Uecomm for AUD109 million (USD76 million). Optus has offered to buy the stake from natural gas supplier Alinta for AUD0.325 per share. The operator is looking to bolster its presence in the Aussie telecoms market to counteract the effect of slowing growth in its mobile operations. Uecomm owns fibre-optic networks spanning five of the country’s largest cities as well as infrastructure covering the Gold Coast region of Queensland, and has direct connections to more than 1,000 buildings.

Australia, Optus