Singtel dismisses reports it is looking to sell Optus: ‘We are committed to Australia for the long term’

Singtel has denied reports that it is looking to sell Optus.

The AFR reported this week that the parent company to the Australian telco is looking to sell Optus, which it has owned since 2001, to Toronto-based Brookfield for $16 billion. However in an SGX listing given to Mumbrella on Thursday, Singtel denied the report, saying “there is no impending deal to offload Optus for the said sum, as reported” and it is focused on recruiting a new CEO following the resignation of Kelly Bayer Rosmarin last year.

“Optus remains an integral and strategic part of the Singtel Group and we are committed to Australia for the long term,” the statement reads.

“Our current focus has been on improving network resilience and conducting a CEO search. That said, 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.”