Singtel says not considering divesting from Australia’s Optus


(Reuters) – Singtel said on Tuesday it was not looking to divest from its Optus unit, Australia’s second-largest wireless operator, refuting a report from Australian Financial Review (AFR).

AFR had earlier reported on Tuesday that Optus executives were exploring options including selling off the company’s enterprise and business divisions.

Optus is a wholly owned subsidiary of Singapore Telecommunications, commonly referred to as Singtel.

“Singtel views its stake in Singtel Optus Pty Limited as strategic and believes in the long-term outlook of the Optus business,” the company said in a statement.

Sydney-based Optus, which drew public ire after a 12-hour network blackout affected over 10 million Australians in November, is also facing a class action lawsuit over a massive 2022 data hack.

(Reporting by Poonam Behura in Bengaluru; Editing by Shweta Agarwal and Tasim Zahid)



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