SYDNEY, Australia-Cable & Wireless Optus confirmed it has received revised proposals from parties interested in buying the Australia-based carrier. Vodafone Group plc, Singapore Telecommunications and Telecom New Zealand are understood to be interested in buying the carrier, which has mobile, consumer and corporate data assets.
According to a report in the Financial Times, SingTel launched a revised cash and share offer of about $8.95 billion and currently looks to be in the lead for sealing a deal. SingTel would likely hold on to all of Cable & Wireless Optus, while Vodafone and Telecom New Zealand would keep only the wireless assets.
Vodafone faces regulatory hurdles to buy the carrier, as it owns the country’s third-largest carrier, and an Optus acquisition would raise its market share to more than half. Vodafone, which is reported to have offered the highest bid, has proposed transferring about 1 million of its clients to newcomer Hutchison if it wins the Optus bid.
Cable & Wireless Optus is Australia’s second-largest wireless operator.
