Singtel plays down suggestions that Australian delisting is precursor to Optus sale

22 Apr 2015

In the wake of the confirmation that Singtel is to delist from the Australian Securities Exchange (ASX), the Singaporean outfit has moved to quell speculation that it is preparing for a potential sale of its Australian subsidiary Optus. According to The Australian, in responding to questions over the reasoning for the delisting, Singtel chief corporate officer Jeann Low cited low levels of liquidity and low trading levels as the main factors in the decision to quit the Australian bourse, stating that an imminent sale of Optus was not in the works. In direct response to a question on whether the delisting was being done with a view to removing a potential hurdle to a future sale of the Australian operator, Ms Low noted: ‘No, not at this point … It’s not related to any plans to list Optus at this point in time. I think that is a topic for another day.’

Australia, Optus, Singtel Group