S'pore Telecom eyes Optus

S'pore Telecom eyes Optus

SINGAPORE (AFP): Singapore Telecommunications Ltd. (SingTel)
has confirmed that it is bidding for Australia's Cable and
Wireless Optus Ltd.

The company said in a statement late Thursday it "has
submitted a non-binding indicative expression of interest for the
acquisition of shares" in Australia's second largest telecoms
company.

The move confirms speculation in Australia that the Singapore
carrier would enter the bidding for Optus.

Telecom Corp. of New Zealand and Vodafone, the world's biggest
mobile company, are also seeking control of the company, which is
being sold by its parent, Britain's Cable and Wireless.

Analysts believe SingTel is well placed to win a bidding war
for Optus given its cash hoard of six billion Singapore dollars
(US$3.4 billion).