By Amanda Lee and Kimberley Kao
Singapore telecommunications company Singtel said that it is open to selling a stake in Optus, its Australian telecom unit, after it posted sharply higher annual profits that were lifted by exceptional gains.
Singtel has been considering bringing on a local partner for its Australian operations, chief executive Yuen Kuan Moon said at a post-earnings briefing Thursday.
"There are always a lot of [potential] partners talking to us," Yuen said. Combining Singtel's strengths with a partner can "make Optus much stronger and better," he said. "We still remain fully committed in Optus."
Optus, which contributes about half of Singtel's operating revenue, has been under scrutiny in recent months.
