SingTel sees Optus potential

Singapore Telecommunications (SingTel) has concluded its strategic review of Optus Satellite, and indicated that it may withdraw its sale of the company, Reuters reports.

Last week the company received two bids for Optus which were lower than the initial asking price of $1.8 billion.

In a statement today, the company said: “Based on the review, SingTel is committed to growing and investing in the satellite business.”

According to Reuters, a source has revealed that SingTel may still accept a public offering for Optus, but it is unknown when this may be.