Bidding For Optus Continues

By IVCPOST Staff Reporter

Jul 03, 2013 09:26 AM EDT

The final round of bidding for Optus is well underway. Top contenders for the final round are Eutelsat SA, Inmarsat PLC and SES SA. Private Equity firms Carlyle Group LP and KKR & Co have dropped out of the bidding for Optus.

SingTel, owner of Optus after a US$9.69 billion dollar take over in 2001 is seeking more than US$1.8 billion for the business. Optus is the second largest phone company in Australia.

Another other groups advancing on the bidding are Blackstone Group LP, TPG Capital and Malaysia's Measat Global Bhd.

The sale of Optus is termed as the largest telecommunications deal for Australia in more 10 years. Optus has 5 spacecrafts orbiting the earth which provides radio, television, internet and phone data and military signal for the Antartic, New Zealand and Australia.

Final offers are due to be submitted next month. Short listed bidders will be given more access to detailed financial information on the unit.

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