SingTel tight-lipped over Virgin Mobile Australia deal

21 Dec 2005

Singapore Telecommunications (SingTel) has declined to comment on rumours that it is close to announcing a deal to purchase the remaining 75% stake in Virgin Mobile Australia it does not already own. Local press sources report that SingTel’s Australian unit Optus is in the process of concluding talks with Sir Richard Branson’s Virgin Group concerning a ‘cash and brand equity deal’ though to be worth around AUD100 million (USD74.44 million).

Australia, Singtel Group