SINGAPORE - Singapore Telecommunications' wholly-owned Australian subsidiary Optus Mobile is planning to fork out some A$250 million to acquire the mobile service business of Amaysim Australia, before the latter winds up.
In a press statement on Monday, Optus said it will acquire the shares of Amaysim's mobile holding company and its customer base of about 1.2 million subscribers as at Oct 20, under a purchase agreement signed between the two parties. The proposed deal's conditions precedent also include certain agreed steps to restructure the mobile business, said Singtel in a bourse filing on Monday.
Amaysim chief executive officer and founder, Peter O'Connell, said Optus has been a long-term strategic wholesale partner of his firm and"is well placed to look after our customers and take the growth of the business to the next level". It added that it had received unsolicited expressions of interest in relation to the mobile business after selling Click Energy to AGL.
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Source: BusinessTimes - 🏆 15. / 51 Read more »