Wednesday 3 April 2024

Singtel Trading HALT and The Perpetual Rumour of Optus Sales.

This is really weird. Singtel actually needs to call for a trading halt this morning (3 April 2024) to tell investors again that it is not in talk or discussion to sell Optus. Earlier this year as well as recently on 13th March 2024, Singtel had already vehemently denied that it was in a deal discussion with Canadian private equity firm Brookfield to sell away its strategic stake in Optus. 

The strange rumour is being perpetuated by the Australian media on an impending sales of Optus to a Canadian Private Equity firm and the eventual "latest breakdown" of the deal during negotiation is kind of absurd.  

Parting thoughts
For the past few weeks, a number of investors seemed to believe and harbour hope that there is "no smoke without fire" and Singtel is going to announce a big surprise with a sales of Optus. Singtel price declined by <-3.15%> from S$2.54 as at 2 April 2024 to S$2.46 at of 12pm, 3 Apr 2024 after the trading halt was lifted.

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