Optus tower sale attracts multiple bidders

9 Jul 2021

The planned sale of Optus’s Australian Tower Network (ATN) unit has attracted multiple bidders, the Australian Financial Review reports, with binding bids expected to be submitted in late September. The article says that Optus parent company Singtel and its bankers have drawn up a shortlist of preferred bidders, which includes: Macquarie Infrastructure and Real Assets (MIRA) and its local towers investment company Axicom; Canada’s Brookfield Infrastructure Partners; QIC and its bid partner KKR & Co.; AustralianSuper; and the Symphony Consortium, which includes Canada’s OMERS Infrastructure, domestic firm Stilmark and US-based ATN International (ATNI).

ATN is understood to be a newly formed holding company, which will own the group’s 2,132 mobile towers. Post-transaction, this infrastructure will be leased back to Optus and other carriers. The deal is expected to be worth between AUD1.5 billion (USD1.1 billion) and AUD2 billion.