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Singtel Denies Optus IPO Reports

The Singaporean owner of Optus has denied reports that the company plans to float Optus on the ASX.

Optus is estimated to be worth in the region of A$8 billion and A$12 billion, with reports that Goldman Sachs and Morgan Stanley have been working on the plan to float Optus over the past few months.

“The news report is highly speculative,” a Singtel spokesperson tells ChannelNews.

“We have no plans to IPO Optus at present. Since becoming part of the Singtel stable, Optus has grown to be a leading telco in Australia and is now a significant part of the Singtel Group.

“In accordance with our listing requirements, we will inform the market in the event of any material developments of this nature.”

This makes sense, given the current volatility of the market.

From Friday, Optus’ business-to-business arm will be ran from Australia, a move Optus CEO Kelly Bayer Rosmarin says means it “will be able to better meet the localised need of our business customer and bring solutions to market more quickly.”

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