C&W Optus continues search for partners

Optus is currently 52.5-percent owned by UK company Cable & Wireless (C&W). C&W has signalled its intention to sell down its Optus stake in those two divisions by saying it will concentrate on the data and business services market in Australia.

The search for equity alliances or new investment partners comes as part of an ongoing review of structural and strategic options for all three of its operating businesses, Optus said in a statement.

Optus has been linked in media reports with several major companies in Asia's mobile telephony market, including Japan's NTT DoCoMo, Singapore Telecommunications and Hutchison Whampoa of Hong Kong.

In July, a report from investment bank Goldman Sachs valued Optus' mobile business at around $16 billion.

Optus shares rose 6 per cent on the Australian Stock Exchange during Wednesday to close at $4.10 on the confirmation that parts of the company may be on the market soon.

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David Legard

PC World
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