Singtel denies Optus divestment report

Singtel said on Tuesday it was not looking to divest from its Optus unit, Australia’s second-largest wireless operator, refuting a report from Australian Financial Review (AFR).

AFR had earlier reported, opens new tabon Tuesday that Optus executives were exploring options including selling off the company’s enterprise and business divisions.

Optus is a wholly owned subsidiary of Singapore Telecommunications, commonly referred to as Singtel.

“Singtel views its stake in Singtel Optus Pty Limited as strategic and believes in the long-term outlook of the Optus business,” the company said in a statement.

Sydney-based Optus, which drew public ire after a 12-hour network blackout affected over 10 million Australians in November, is also facing a class action lawsuit over a massive 2022 data hack. Reuters