Undervalued Singtel needs boost from stronger Optus performance: analysts
SINGAPORE telco giant Singtel : Z74 0% on Mar 13 rubbished a news report – for the second time in two months – claiming it intends to sell its stake in Australian subsidiary Optus.
The group said “there is no impending deal to offload Optus for the said sum”. It added that “Optus remains an integral and strategic part of the Singtel Group”.
Investors, however, appear to believe something could indeed be brewing. Shares in Singtel rose 4.2 per cent on Mar 13, and have continued to add another 1.6 per cent since then to close at S$2.52 on Wednesday (Mar 20).
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Telcos, Media & Tech
TikTok tells advertisers: ‘We are not backing down’
Everything Apple plans to show at May 7 ‘let loose’ iPad event
Tech platforms make pitch for ad deals as TikTok is roiled by politics
Google, US clash over search advertising as trial winds down
Apple rallies most in 18 months on upbeat forecast, buyback
Microsoft adds security chiefs to product groups in wake of hacking woes