SingTel commissions banks to advise on Optus Satellite sale

25 Mar 2013

Singapore Telecom (SingTel) has selected Morgan Stanley and Credit Suisse banks to play the lead role in a review of its Australian satellite business Optus Satellite, ahead of a possible sale of the unit. If completed, the divestment could generate up to AUD2 billion (USD2.1 billion) for the Singapore-based group, which is looking to rationalise its operating portfolio. In January this year SingTel confirmed its intentions to offload its minority stake in Pakistan’s Warid Telecom to Abu Dhabi Group unit, Warid Telecom Pakistan. Concerning Optus Satellite, the options under consideration include a straight sale, or a plan to hive off the unit into a separate business trust. The satellite operator has five satellites, plus a sixth, which is due to launch later this year.

Australia, Optus, Singtel Group