Singtel: no plans to list Australia’s Optus

Reuters writes that Singapore-based Singtel Group has no plans to list its Australian subsidiary Optus, scotching recent speculation that it has been considering an initial public offering (IPO) for the company, valuing it at between USD5.54 billion and USD8.31 billion. Yesterday (27 June) Southeast Asia’s largest carrier responded to local press reports suggesting that was its intention by calling them ‘highly speculative’ and saying that it would make its own announcements if it felt there was any information that ‘warranted disclosure’. The Australian newspaper had claimed that Goldman Sachs and Morgan Stanley had been working on a plan to float the unit in recent months, but added that Singtel Group ‘was expected to pause the listing due to market volatility’.