Singtel distanced itself from media reports claiming it was preparing to sell tower assets owned by Australian subsidiary Optus for an estimated AUD2 billion ($1.2 billion).
In a statement to the Singapore stock exchange, Singtel said the company “regularly reviews its options to optimise its assets and operating model”.
It, however, added: “Singtel wishes to emphasise there is no certainty or assurance any transaction will occur. If, and when, there are any material developments that warrant disclosure, Singtel will, in compliance with applicable rules, make further announcements as appropriate.”
The comments were in response to a widely-cited article by Singapore newspaper Business Times. In it, the publication’s sources said Singtel had appointed Bank of America to prepare for an auction of the assets during the first half of this year, subject to any delays related to Covid-19 (coronavirus).
As part of any deal the operator would reportedly ink a lease-back agreement on the infrastructure, similar to recent arrangements made by operators divesting such assets in other markets.
Rumours Singtel was mulling the sale of the towers have been circulating in the Australian press since January. In 2019 the company called for a revision of regulations on towers in the country to streamline the rollout of 5G.Subscribe to our daily newsletter Back