Singtel's Optus to acquire Amaysim mobile business for A$250m; Trustwave gets new CEO

Fiona Lam

Published Mon, Nov 2, 2020 · 09:50 PM

Singapore

SINGAPORE Telecommunications' (Singtel) wholly-owned Australian unit Optus Mobile is planning to fork out some A$250 million (S$239.7 million) in cash to acquire the mobile service business of Amaysim Australia, before the latter winds up.

Australia-listed Amaysim is the country's largest mobile virtual network operator (MVNO) and the fourth-largest mobile service provider overall. It operates on the Optus 4G Plus network, and specialises in SIM-only mobile plans.

In a statement on Monday, Optus said it is looking to acquire the shares of Amaysim's mobile holding company and its customer base of about 1.2 million subscribers, and then keep Amaysim as a standalone brand.

Citi said the proposed deal made sense, given that Amaysim's wholesale contract was set to expire by June 2022 and as such, Optus would have been at risk of losing its MVNO partner and wholesale revenues. The acquisition will allow Optus to effectively retain Amaysim's subscribers and revenues, wrote…