Eutelsat, KKR to Place Bids for SingTel’s Australia Unit

By IVCPOST Staff Reporter

Jun 17, 2013 10:05 AM EDT

According to one person with full knowledge of the information, Eutelsat Communications SA and KKR & Co are the first to place their bids for Singapore Telecommunications Ltd.'s Australian unit.

SingTel is Southeast Asia's biggest telecom operator. The firm values its satellite business of its Australian unit Optus at US$1.9 billion. SingTel has put it on sale as it battles slow growth in the Singaporean and Australian key markets.

Other suitors to submit bids ahead of the Friday deadline were Carlyle Group and Blackstone Group still according to the same source.

Temasek Holdings controls SingTel. It has sent financial information to bidders last May. This was after announcement of its strategic business review in March. Optus has more than 2 million subscribers in Australia where it sells telephony and broadband services.

The net proceeds from the sale would aid SingTel to push forward into faster growing businesses.

The source asked not to be named as the process of acquisition is confidential. Suitors for the company also declined to comment. SingTel also refused to give statements.

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