Singtel says not considering divesting from Australia's Optus
View of an Optus shop in Sydney, Australia, on Nov 8, 2023.
PHOTO: Reuters file
PUBLISHED ONJanuary 31, 2024 1:40 AM
Singtel said on Tuesday (Jan 30) it was not looking to divest from its Optus unit, Australia's second-largest wireless operator, refuting a report from Australian Financial Review (AFR).
AFR had earlier reported on Tuesday that Optus executives were exploring options including selling off the company's enterprise and business divisions.
Optus is a wholly owned subsidiary of Singapore Telecommunications, commonly referred to as Singtel.
"Singtel views its stake in Singtel Optus Pty Limited as strategic and believes in the long-term outlook of the Optus business," the company said in a statement.
Sydney-based Optus, which drew public ire after a 12-hour network blackout affected over 10 million Australians in November, is also facing a class action lawsuit over a massive 2022 data hack.
ALSO READ: CEO of Singtel-owned Optus resigns following network outage in Australia