Singtel's Optus to buy Australia MVNO Amaysim's mobile business for A$250m

The valuation was arrived at based on Optus' assessment of the customers, assets and prospects of Amaysim's mobile business, among other things.

Net liabilities of the mobile business amounted to about A$300,000, prior to the restructuring, based on the unaudited financial statements as at Sept 30.Optus said it"values the strong performance and customer-first focus" of the business and thus will keep Amaysim as a standalone brand after the acquisition.

Amaysim used to sell energy services as well, until it simplified its product offering on Oct 2 to focus on just mobile plans, according to the company's website. It listed on the Australian Securities Exchange in 2015, and has recently acquired Vaya, Jeenee and OVO's customers. Offering straightforward subscription pricing, Gomo is meant to target"value-conscious Australians seeking easy mobile connectivity", Optus said in its statement.

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