Singtel to sell minority stake in Australian unit, shares S$4.2 billion spending plan

Singapore Telecommunications said on Thursday it was looking to sell a minority stake in its Australian unit Optus, and shared capital spending plans of S$4.2 billion ($3.28 billion) in 2027.

Singtel said it was looking for a “like-minded long-term local ‌partner owning a ⁠meaningful minority ⁠stake” in the Australian operator, which has been owned by Singtel for over 25 years and is Australia’s second-largest telecom firm.