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Optus says no to broadband network sale
10 February 2010
SingTel’s Australian business, Optus, is refusing to sell its hybrid fibre coax network to the state-controlled National Broadband Network
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Optus
Australia
SingTel
NBN
National Broadband Network
SingTel Optus has put on hold its plans to sell its Australian cable broadband network to the state owned National Broadband Network. The Australian telecom company shelved its plans after reporting profits in its mobile business.
NBN Co was apparently unwilling to buy the hybrid fibre coax network assets. Optus is, however, open to receiving other offers, said CEO Paul O’Sullivan.
Optus posted a 15.7% increase in profit to $165 million for the December quarter, compared with $143 million in the previous corresponding period. Revenue from the mobile business rose 9.6% to $1.46 billion, due to an 11% rise in mobile services revenue to $1.18 billion.
Optus’s business and wholesale fixed-line divisions declined 2.9% in third-quarter revenue to $500 million. The drop is due to weak corporate spending on telecommunications and lower wholesale international voice revenues. GTB