Tags: SingTel, Australia, Optus Satellite
Publication: Bloomberg.com
Publication Date: 05/28/2013

SingTel headquarters in Singapore. Image credit: Isriya Paireepairit

Singapore Telecommunications (SingTel), one of Southeast Asia’s largest telecom companies, has started the sale of Optus Satellite, its Australian satellite unit, seeking more than AU$2 billion ($1.9 billion). According to reports, private equity firms KKR and Carlyle Group are among the suitors.

Optus Satellite has five spacecraft in orbit providing television, radio, phone, data and military services to Australia, New Zealand, and parts of the Antarctic. The company broadcasts signals to more than two million Australian households, and is expected to launch a sixth satellite this year. Among Optus Satellite’s clients are Foxtel, state-owned Australian Broadcasting, and Australia’s Department of Defence. SingTel acquired the unit in 2001, as part of its $9.69 billion takeover of Optus.

SingTel is now looking to sell the satellite division to invest in other acquisitions the company has planed amid slowing sales in Australia and Singapore.

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