SINGTEL CONFIRMS OPTUS STAKE SALE TALKS

Singtel's confirmation follows reporting from the Australian Financial Review detailing Morrison's interest in purchasing the stake. The potential transaction represents a significant shift in Optus's ownership structure, with Singtel currently holding a major shareholding in the Australian telecommunications company. Morrison, known for backing infrastructure assets, has emerged as the lead contender in preliminary discussions. The A$2 billion valuation positions the deal as a substantial investment in the Australian telecom sector. Singtel, Southeast Asia's dominant telecom operator, has maintained its presence in the Australian market through its Optus holding. The sale would reduce Singtel's exposure to regional telecommunications while providing Morrison with entry into a major Australian asset. No timeline for completion has been disclosed. Both parties are understood to be in early-stage discussions, with final terms and regulatory approvals still pending.