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Optus Towers Auction Bids Due Today

Bank of America is taking final offers today for the sale of the $2 billion Optus towers portfolio.

The portfolio contains between 2,000 and 2,5000 Australian telco towers, and the buyer will purchase around 70 per cent of these.

Still in the running for the purchase is the Queensland Investment Corporation, the Ontario Teachers’ Pension Plan, private equity fund Brookfield, AustralianSuper and the Symphony Consortium.

The buyer will enter into a joint venture with Optus, owned by Singtel, and will own the majority of its Australian tower portfolio, as well as help construct new towers.

The sale will act as a market test for TPG Telecom, who is planning to sell its own tower portfolio in the near future.

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