The halt was placed after multiple reports said talks had ended for Singtel to divest a 20% stake in Optus as the parties were unable to agree on certain terms involving the valuation and price aspect of the possible transaction.
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 on Wednesday before trading was halted pending an announcement.
Singapore Telecommunications (Singtel) on Wednesday (April 3) ruled out any impending deal to sell its Australian mobile network operation Optus following reports that talks for a potential stake divestment had fallen off. Southeast Asia's largest telecom operator, Singtel sought a trading halt after its shares sank 3.15 per cent to $2.46. The company then reiterated that there was no Optus.