October 1, 2021

Singtel to sell 70% stake in Australian tower assets for $1.87b; enters new regional tie-ups

By ellen

SINGAPORE (THE BUSINESS TIMES) – Singtel on Friday (Oct 1) announced a conditional agreement to sell a 70 per cent stake in Australia Tower Network (ATN), which operates telecommunications towers for Singtel’s Australian telco subsidiary Optus, for A$1.9 billion (S$1.87 billion) in cash.

The deal values ATN at an enterprise value of A$2.3 billion, Singtel said.

Separately, Singtel also signed a memorandum of understanding with Thai power and infrastructure company Gulf Energy to build and develop data centres.

Singtel also announced it is in advanced talks with its Indonesian partner Telkom to explore acquiring and building data centre assets in Indonesia and South-east Asia.

Shares of Singtel were down one cent, or 0.4 per cent, at $2.45 as at 9.04am on Friday’s market open.