Tuesday, 19 March 2013

SingTel may sell Optus Satellite business

Optus' parent company Singapore Telecommunications is considering selling the Australian telco's satellite business. Optus Satellite has five satellites providing services for broadcasters including the ABC, SBS, Foxtel, Southern Cross and WIN, plus several government departments. 
SingTel the owner of Optus, said on 18 March 2013 that it was conducting a strategic review of the Optus Satellite business. Optus Satellite’s revenue was A$222 million during its 2001 financial year, according to statements filed during Cable and Wireless Optus Ltd.’s takeover by SingTel. That was worth S$206 million in SingTel’s home currency, based on the exchange rate used during the takeover.The A$319 million of revenues the division recorded in 2012 was worth S$417 at the company’s reported exchange rate for that year, 41 percent more than the S$295 million that would have resulted at 2001 rates.


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