New Zealand-based infrastructure investor Morrison is reportedly in exclusive negotiations to acquire a minority stake in Optus, with the deal potentially valued at more than A$2 billion.

Morrison has reportedly secured a seven-week exclusivity period to finalise a proposal to acquire more than 30% of Optus from parent company, Singaporean telecommunications giant Singtel.

Further reports suggest that Singtel has now confirmed it is in talks, suggesting a deal could be nearing completion. 

If the transaction goes ahead, Optus would gain an Australian and New Zealand-based infrastructure investment partner, while Singtel would remain a major shareholder and continue its long-term commitment to the business.

The deal has the potential to inject additional capital into Optus while allowing Singtel to maintain its strategic presence in Australia, where Optus remains a key asset within the group’s regional telecommunications portfolio.

The news follows an announcement by Singtel made earlier this year that it was exploring the sale of a meaningful minority stake in Optus. The move is part of a strategy to bring in a long-term local partner with complementary expertise.

Morrison is well known for investing in essential infrastructure assets across Australia and New Zealand. Optus would be a strategic addition to its telecommunications portfolio.

Optus is currently rebuilding its reputation after a spate of recent network outages and cybersecurity issues. The telecommunications company has been investing heavily in network resilience, customer service and operational improvements.

A successful deal could provide additional capital and infrastructure expertise without changing Optus’ day-to-day operations or competitive position in the Australian market.