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SingTel launches offer for Cable & Wireless Optus - Company Business and Marketing - Brief Article

Telecomworldwire, March 27, 2001

TELECOMWORLDWIRE-27 March 2001-SingTel launches offer for Cable & Wireless Optus (C)1994-2001 M2 COMMUNICATIONS LTD http://www.m2.com

Singapore Telecommunications Ltd (SingTel) has offered to buy the Australian telecomms operator Cable & Wireless Optus Ltd, valuing Optus' equity at between AUD14.9bn-AUD17.2bn.

The telecomms services provider Cable & Wireless Plc owns 52.5% of Optus while the remainder is publicly held. To go through, SingTel's offer must be approved by at least 50% of Optus' shareholders and by certain regulatory authorities in Australia and Singapore.

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The deal is expected to be completed during the Northern Hemisphere's summer 2001.

((Comments on this story may be sent to tww.feedback@m2.com))

COPYRIGHT 2001 M2 Communications Ltd.
COPYRIGHT 2001 Gale Group
 

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