SingTel dismisses media report of sale of Australian unit Optus

Singapore Telecommunications, Southeast Asia's largest telcom operator, on Wednesday dismissed a media report that said it was in advanced talks to sell its Australian unit Optus.

Earlier, the Australian Financial Review (AFR), reported 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 ($11.89 billion). "There is no impending deal to offload Optus for the said sum, as reported," SingTel said in a statement.

"We regularly conduct strategic reviews of our portfolio to optimise the value of our assets and businesses and will explore all options to maximise shareholder value." SingTel's shares had jumped nearly 4% after the AFR report before the company requested a trading halt.

Brookfield and Optus did not immediately respond to Reuters' email requests for comment. SingTel has owned Optus since 2001.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)