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Hot stock: Singtel shares fall nearly 2% in heavy trading as investors weigh Optus lawsuit

The Australian consumer watchdog is pursuing penalties, consumer redress, a compliance programme and costs from the telco’s unit

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Ranamita Chakraborty

Ranamita Chakraborty

Published Fri, Nov 1, 2024 · 01:51 PM
    • The heavy trading of Singtel shares follows the Australian Competition and Consumer Commission filing of court proceedings against Optus Mobile over allegations of inappropriate sales conduct.
    • The heavy trading of Singtel shares follows the Australian Competition and Consumer Commission filing of court proceedings against Optus Mobile over allegations of inappropriate sales conduct. PHOTO: BT FILE

    SHARES of telco giant Singtel were heavily traded on Friday (Nov 1) after court proceedings against its subsidiary Optus Mobile in Australia commenced the day before.

    The counter hit a low of S$2.90 at 9 am after the market opened amid heavy trading and this marked the lowest price recorded since August 2024.

    Two married deals were recorded in early trade, ShareInvestor data indicated.

    Hot StockSingtel

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