The chase for Cable & Wireless Optus's mobile business has turned ugly, with Vodafone telling Australia's anti-monopolies watchdog that SingTel would be unable to feed the 'capital appetite' of a full service.
Cash-rich Singapore Telecommunications has agreed to buy Australia's second largest telecom operator Cable & Wireless Optus, valuing the company at AU$17 billion in what is the largest foreign acquisition ever by a Singapore company.
The Australian Defence department says it has signed a deed of agreement with SingTel and Cable and Wireless Optus to resolve security concerns ahead of a proposed AU$14 billion merger.
Singapore Telecommunications told analysts today it was confident its bid for Cable & Wireless Optus would be declared unconditional by Thursday.
Singapore Telecommunications has submitted a non-binding indicative expression of interest for shares in Cable & Wireless Optus, hoping to secure a stake in Australia's lucrative mobile phone market.
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