SingTel's Optus bid gets green light from US

By ZDNet Asia staff
20 August 2001 04:16 PM
Tags: cwo, singtel, bid, optu, satellite, australia
Singapore Telecom's takeover for C&W Optus has one less hurdle to contend with, as the US, which exports its satellite technology to Optus, has given the deal its blessing.

The US State Department has confirmed that SingTel will not require new licences to operate Optus satellites, which are used by Australia's Department of Defence, The Sydney Morning Herald reported on Friday.

However, both SingTel and Optus will have to provide written assurances on their use of sensitive satellite technology.

The deal still hangs on a decision by Australia's Foreign Investment Review Board. The Business Times reported that Singtel has frozen the leave of key personnel involved in taking over Optus, which is Australia's second largest telco.

The paper speculated that approval may be given by month's end.

Whatever the case, SingTel has until May 2002 to complete the acquisition, under Australian law. As of August 3, it had received acceptances for 24.51 percent of Optus' shares.

Advertisement

Talkback 0 comments

Latest Videos

Sponsored content

Power Centre - Content from our premier sponsors

Blogs

  • Suzanne Tindal Sick of broken tender sites
    Some of the state governments desperately need to invest in more user-friendly tender sites so that looking for information on government tenders doesn't have to be a game of blind man's bluff.
  • Array Cyberwar: What is it good for?
    In this week's episode, Cyberwar. What is Australia's place in the world of digital warfare? What are the implications for the NBN?
  • Array Is wholesale-only backhaul just a pipedream?
    The potential acquisition of Pipe Networks by SP Telemedia has raised the question about whether vertically integrated backhaul providers will mean higher wholesale prices for ISP customers.
  • More blogs »

Tags

Back to top

Featured