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    Z74   SG1T75931496

SINGAPORE TELECOMMUNICATIONS LIMITED

(Z74)
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Delayed Singapore Stock Exchange  -  05/27 04:57:56 am EDT
2.680 SGD   -1.83%
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Singtel to Sell 70% Stake in Australia Tower Network for A$1.9 Billion

09/30/2021 | 06:41pm EDT

By Yifan Wang

Singapore Telecommunications Ltd. on Friday said it is selling 70% of an Australian unit for $1.9 billion Australian dollars ($1.37 billion), the latest step by the Southeast Asian telecom operator to optimize its large portfolio of telecom infrastructure assets.

Proceeds from the sale of the stake in Australia Tower Network, which operates infrastructure for the telecom carrier Optus, will be used to fund Singtel's 5G rollout and other new growth opportunities, it said.

Singtel also said it will start a regional data-centre business with Thailand's Gulf Energy and Telkom Indonesia, in a bid to capture new demand and opportunities arising from the "digital wave sweeping Asia."

Singtel in May outlined a strategic overhaul, proposing to optimize and restructure its telecom infrastructure assets, which include mobile towers, data centres, subsea cables and satellites.

Write to Yifan Wang at yifan.wang@wsj.com

(END) Dow Jones Newswires

09-30-21 2041ET

Stocks mentioned in the article
ChangeLast1st jan.
GULF ENERGY DEVELOPMENT PUBLIC COMPANY LIMITED 0.53% 47.75 End-of-day quote.4.37%
MSCI SINGAPORE (GDTR) 0.97% 5632.99 Real-time Quote.-11.14%
PERUSAHAAN PERSEROAN (PERSERO) PT TELEKOMUNIKASI INDONESIA TBK 2.38% 4300 End-of-day quote.6.44%
SINGAPORE TELECOMMUNICATIONS LIMITED -1.83% 2.68 Delayed Quote.15.52%
All news about SINGAPORE TELECOMMUNICATIONS LIMITED
05/27Singapore Shares End Week Higher; Sanli Environmental Shares Balloons 44% on Higher Fis..
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05/27Singtel Posts Higher Profit in Fiscal H2 on Net Exceptional Gain from ATN Disposal; Sha..
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05/27Singtel in Talks to Sell 2-4% Stake in Bharti Airtel
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05/27SINGAPORE TELECOMMUNICATIONS : Singtel Group News ReleasePDF (172 KB)
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05/27SINGAPORE TELECOMMUNICATIONS : Optus News ReleasePDF (249 KB)
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05/27SINGAPORE TELECOMMUNICATIONS : Management Discussion & AnalysisPDF (493 KB)
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05/27SINGAPORE TELECOMMUNICATIONS : Historical Financial Summaries
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05/27Singtel Reiterates Airtel Remains Core Investment Amid Stake Sale Market Speculation
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05/26Singtel 2nd Half Net Income Soared On Divestment Gains
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05/26Singtel Reportedly to Sell 2%-4% Stake in Bharti Airtel to Sunil Mittal Family
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Financials
Sales 2022 15 886 M 11 600 M 11 600 M
Net income 2022 2 128 M 1 554 M 1 554 M
Net Debt 2022 11 449 M 8 360 M 8 360 M
P/E ratio 2022 20,5x
Yield 2022 3,49%
Capitalization 44 565 M 32 542 M 32 542 M
EV / Sales 2022 3,53x
EV / Sales 2023 3,41x
Nbr of Employees 22 583
Free-Float 93,9%
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Mean consensus BUY
Number of Analysts 18
Last Close Price 2,70 SGD
Average target price 3,15 SGD
Spread / Average Target 16,6%
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Managers and Directors
Kuan Moon Yuen Group Chief Executive Officer & Executive Director
Tao Yih Lang Group Chief Financial Officer
Theng Kiat Lee Chairman
Chin Kok Chong Group Chief Technology Officer
William Siew Wing Woo Group Chief Information & Digital Officer