Singtel: No Plans to Sell off Optus in Australia
Published on: February 2, 2024.
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Singtel Affirms Commitment to Optus Unit Amidst Divestment Report
Singapore Telecommunications (Singtel) has dismissed speculation that it is considering divesting from its subsidiary Optus, Australia’s second-largest wireless operator. This comes in response to a report from the Australian Financial Review (AFR) stating that Optus executives were exploring options to sell off certain divisions of the company.
Singtel, the parent company of Optus, maintains a strategic view of its stake in Singtel Optus Pty Limited and expresses confidence in the long-term prospects of the Optus business.
Optus, based in Sydney, has recently faced challenges, including a high-profile 12-hour network blackout that affected more than 10 million Australians in November. Additionally, the company is dealing with a class action lawsuit related to a major data breach in 2022.
Singtel’s reaffirmation of its commitment to Optus provides stability and assures stakeholders of its dedication to the growth and success of the Australian wireless operator.
Source: [Reuters](https://sg.news.yahoo.com)
