Eutelsat and KKR & Co among bidders for SingTel’s Australian satellite unit Optus
17 Jun 2013
France's Eutelsat Communications SA and private equity firm KKR & Co are among the bidders for Singapore Telecom (SingTel) Australian satellite unit Optus, Reuters yesterday reported, citing a person with direct knowledge of the matter.
In March, SingTel, Southeast Asia's largest telecom operator, had said that it is conducting a strategic review of the Optus Satellite business to optimise value for shareholders and had appointed Credit Suisse and Morgan Stanley as financial advisors to assist with the review, including a sale.
UK's Inmarsat, Blackstone Group and Carlyle Group are among the other suitors to submit bids ahead of the 14 June deadline, the report said and added that other bidders to express interest include, Asia Satellite Communications Holdings Ltd, Intelsat, Sky Perfect Jsat Corp, Australia's NewSat and SES.
Optus is the only telecommunication company to own and operate a fleet of satellites in Australia and has been providing premium satellite services across Australia and New Zealand for over 25 years.
Optus Satellite delivers free-to-air and pay TV, mobile telephony and broadband services to over 2 million Australian households and multi-national companies. Optus operates a fleet of five satellites, with another satellite, Optus 10, scheduled for launch in 2013.
Its customers include broadcasters and government organisations, such as the Australian Broadcasting Corporation, Foxtel, GlobeCast Australia, SBS, Southern Cross, WIN, GWN7, NBN Co, NSW Department of Education and Communities, Department of Defence and Air Services Australia.
Optus Satellite recorded revenues of A$319 million for the financial year ended 31 March 2012.
