Singtel ponders sale of USD1.2bn Australian tower assets

Asian powerhouse Singtel Group is reportedly considering the sale of its substantial telecommunication tower assets in Australia, said to be worth in excess of AUD2 billion (USD1.2 billion). The Australian Financial Review suggests that Singapore’s largest telco has given the go ahead for the Bank of America to undertake a potential deal, with an auction possibly set to take place in H1 2020 – subject to ongoing complications and disruptions arising from the COVID-19 situation. It is understood that under the proposals, Singtel’s 100% owned Aussie subsidiary Optus – which owns the assets – would ultimately conclude a ‘sale and leaseback arrangement’ with whomever buys the assets, so it can continue to operate the mobile phone towers.