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SingTel Puts Australian Satellite fleet up for Sale

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Singapore Telecommunications (SingTel) has confirmed that it is looking at a possible sale of the satellite operations at its Australian subsidiary, Optus. Any deal is expected to be worth more than USD1 billion.

SingTel has appointed Credit Suisse and Morgan Stanley as financial advisors to assist with the review.

Optus is the only telecommunication company to own and operate a fleet of satellites in Australia and has been providing satellite services across Australia and New Zealand for over 25 years.

Optus Satellite delivers TV, mobile telephony and broadband services to over 2 million Australian households and multi-national companies from a fleet of five satellites, with another satellite, Optus 10, scheduled for launch in 2013.

Optus Satellite recorded revenues of A$319 million for the financial year ended 31 March 2012.

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Tags: singtel  optus  satellite  Australia