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.
Singtel Shares Fall More Than 1% After Optus Stake Sale Reports usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.
Singapore Telecommunications (Singtel) shares fell more than 1% on Thursday in early trade after reports it was in advanced negotiations to sell a significant stake in Australian telco Optus to Canada's Brookfield Asset Management. Those reports came after Singtel had dismissed an article in the Australian Financial Review (AFR) on Wednesday saying it would sell the entirety of Australia's second-largest telecommunications group for as much as A$18 billion ($11.93 billion). Shares of Singtel were last down 0.8%, after sliding as much as 1.6% earlier in the session.
Singapore Telecommunications shares rose nearly 4% before being halted on Wednesday after the Australian Financial Review reported the company was in advanced talks to sell its Australian.
SingTel Shares Jump 4% Before Being Halted After Media Report on Optus Sale usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.