Singapore Telecommunications Ltd., southeast Asia’s largest phone company, said it was reviewing its Optus Satellite unit in Australia, which Nomura Holdings Inc. said may be worth A$2 billion ($2 billion) if sold.
Singapore Telecommunications Ltd. will renew a push to win mobile users against Telstra Corp. in Australia after currency moves and a focus on profitability drove its quarterly sales in the country down 14 percent.
Singapore Telecommunications Ltd., Southeast Asia’s biggest phone company, wants to focus on wireless services in Myanmar as it vies for the right to operate in one of the world’s last untapped mobile markets.
Myanmar’s contest for two telecommunications licenses attracted bidders from around the globe seeking a foothold in one of the last remaining untapped markets, where only one in 10 people has a mobile phone.
Singapore Telecommunications Ltd., Southeast Asia’s biggest phone company, started the sale of its Australian satellite unit and is seeking more than A$2 billion ($1.9 billion), three people with knowledge of the matter said.
Telstra Corp. will hold off on returning extra cash to shareholders until at least 2014 as it starts receiving A$11 billion ($11.4 billion) from the state- owned company building Australia’s broadband network.
Singapore Telecommunications Ltd., Southeast Asia’s biggest phone company, posted first-quarter profit that missed analyst estimates as currency moves and lower sales at its Australian unit cut earnings.