SingTel

SingTel: has started the sale of its Australian Optus Satellite unit and is seeking more than A$2b. KKR, Bain Capital, Carlyle Group and Blackstone Group are among private equity firms evaluating possible bids, sources said. France’s Eutelsat Comms is also expected to bid. The first round bid deadline is set for Jun 14. SingTel acquired the satellite unit as part of its US$9.69b takeover of Optus, Australia’s second-largest phone company, in 2001. SingTel is selling the satellite division as it chases new sources of growth amid slowing sales in Australia and Singapore. Divesting the division, which had revenue of A$319m in FYMar12 (small vs FYMar13 group revenue of $18.2b), would help finance the $2b of acquisitions that SingTel is planning in the digital space, and the $2.5b capex for expansion of the LTE coverage and 3G network enhancements.