Singtel Surges After Report of $11 Billion Optus Sale Talks
- Singtel is in talks to sell Optus to Brookfield, AFR reports
- Its shares jumped their most since 2022 in Singapore
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Singapore Telecommunications Ltd. climbed its most in almost two years after the Australian Financial Review reported it was in advanced discussions to sell carrier Optus to private equity firm Brookfield for about A$16 billion ($10.6 billion).
Singapore’s largest carrier gained as much as 4.2%, its biggest intraday gain since May 2022, before the exchange halted trading. According to AFR, Brookfield may bring a consortium partner such as the Canada Pension Plan Investment Board into a deal that could value Optus at as much as A$18 billion. In response, Singtel said there was “no impending deal to offload Optus for the said sum, as reported,” adding the Australian operation was integral to the broader group.