Telecom major Singtel confirms no intention to divest Australian telco Optus

Singapore Telecommunications (Singtel), Southeast Asia's largest telecom operator, on Wednesday reiterated that there was no "impending deal" to divest its Australian telecom unit Optus.

Singtel, majority-owned by Singapore sovereign investor Temasek, in March denied an AFR report that it was offloading Optus to Canada's Brookfield for up to $12 billion.

Shares of Singtel were down 3.15% at S$2.46 before trading was halted pending an announcement.


The halt was placed after multiple reports said talks had ended for Singtel to divest a 20% stake in its Australian business.

"The Group would like to advise shareholders of Singtel and potential investors to exercise caution in their review of any media reports relating to Optus in the absence of any definitive announcements when dealing with the shares of the company," Singtel said in a statement.