Singtel confirms talks to sell Optus stake

Singtel has confirmed it is shopping a stake in its Australian subsidiary Optus after reports indicated around one-third of the telco may be up for sale.

The Australian Financial Review reported that a stake of “more than 30 per cent” is being offered in a deal that could be worth over $2 billion.

In a statement to the Singapore stock exchange [pdf], Singtel confirmed that it is “currently in discussions with interested parties but there is no certainty or assurance that any transaction will occur.”

“Singtel will make an announcement if and when there are any material developments that warrant disclosure,” it said in the brief filing.

The Singapore-based telco indicated back in May that it was open to selling a "meaningful minority stake" in Optus.

Currently, the telco is wholly-owned by Singtel.

Singtel indicated it hoped to find “a like-minded local partner that aligns with our objectives of ensuring that Optus continues to be a strong alternative operator in the industry.”

An Optus spokesperson directed questions on the potential sale to Singtel.