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SingTel shares surge amid reports of advanced talks to sell optus

Singapore Telecommunications (SingTel) shares rose nearly 4 per cent before being halted on Wednesday (Mar 13) after the Australian Financial Review (AFR) reported the company was in advanced talks to sell its Australian telecommunications subsidiary Optus.

SingTel requested the trading halt pending an announcement, but did not disclose any further details.

The AFR citing sources reported that SingTel was in advanced discussions with Canadian private equity Brookfield to sell Optus in a deal that could value the business for up to A$18 billion (US$11.89 billion).

SingTel, Brookfield, and Optus did not immediately respond to Reuters’ email requests for comment. Reuters

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