Singtel denies exploring transactions for Optus enterprise business

SINGTEL is not exploring transactions that involve the enterprise business of its Australian unit Optus, it said in response to a report by the Australian Financial Review (AFR).

“No transaction relating to the Optus enterprise business is currently being contemplated,” Singtel said in a bourse filing late on Tuesday (Jan 30) evening.

Earlier in the day, the AFR published a report titled Singtel weighs options for Optus; eyes on enterprise division. The article said, citing sources, that Optus executives have considered divestments over the past two years to help Singtel take some money off the table, and that one option is divesting Optus’ enterprise and business division.

Addressing the article, Singtel said that it views its stake in Optus as “strategic” and believes in the long-term outlook of the business.

“Consistent with our strategic reset, Singtel regularly explores and reviews business opportunities, projects and proposals relating to its business and investments from time to time, and there is no certainty any of these will lead to a definitive or binding transaction,” the telco added.

Singtel said it will make relevant disclosures, if any, at the appropriate time. Its shares ended Tuesday at S$2.42, up S$0.02 or 0.8 per cent.