SINGAPORE telco giant Singtel on Mar 13 rubbished a news report – for the second time in two months – claiming it intends to sell its stake in Australian subsidiary Optus.
The group said “there is no impending deal to offload Optus for the said sum”. It added that “Optus remains an integral and strategic part of the Singtel Group”.
Investors, however, appear to believe something could indeed be brewing. Shares in Singtel rose 4.2 per cent on Mar 13, and have continued to add another 1.6 per cent since then to close at S$2.52 on Wednesday (Mar 20).
Despite the climb, analysts believe that Singtel’s shares remain undervalued. They added that it would take a stronger recovery from Optus…
