Optus Stepping Up Efforts To Sell $2bn Portfolio Of Comms Towers

Optus has recruited the help of additional advisers as part of efforts to sell off its $2-billion portfolio of communication towers, according to The Australian.

While the early stages of sales processes are under way, they are expected to begin in earnest in August.

Singtel, Optus’s parent company, mandated Bank of America to package the phone towers for potential buyers in March. Bank of America is expected to target both Australian and offshore infrastructure funds, particularly those that have already acquired mobile phone towers in recent years.

Macquarie Infrastructure and Real Assets (MIRA) have been identified as a top contender. However, such an acquisition may face pushback from sector regulators.

Palisade Investment Partners has also been tipped to bid for the assets. Palisade provides institutional investors access to Australian infrastructure projects.