IDNer
2008-06-23, 11:36 AM
SingTel Wants Government Stake in Internet Bid, Australian Says
By Laura Cochrane
June 23 (Bloomberg) -- A Singapore Telecommunications Ltd.- led group wants Australia take a stake in the country's proposed national high-speed internet network, valued at as much as A$21 billion ($20 billion), the Australian newspaper reported.
Optus, a unit of SingTel, said its Terria bidding group would prefer the Government's A$4.7 billion contribution to the project to be via debt, the newspaper reported, citing Terria chairman Michael Egan.
The eight-member group may raise debt and equity to fund the network and is looking for advisers and financers. Talks with Macquarie Group Ltd. about a joint-bid hadn't progressed because of disagreements about fees, the report said.
Telstra Corp., Australia's largest telephone company, last week appointed Macquarie Capital Advisers as adviser for its bid to operate the network. Optus is Australia's second-largest telephone company.
http://www.bloomberg.com
By Laura Cochrane
June 23 (Bloomberg) -- A Singapore Telecommunications Ltd.- led group wants Australia take a stake in the country's proposed national high-speed internet network, valued at as much as A$21 billion ($20 billion), the Australian newspaper reported.
Optus, a unit of SingTel, said its Terria bidding group would prefer the Government's A$4.7 billion contribution to the project to be via debt, the newspaper reported, citing Terria chairman Michael Egan.
The eight-member group may raise debt and equity to fund the network and is looking for advisers and financers. Talks with Macquarie Group Ltd. about a joint-bid hadn't progressed because of disagreements about fees, the report said.
Telstra Corp., Australia's largest telephone company, last week appointed Macquarie Capital Advisers as adviser for its bid to operate the network. Optus is Australia's second-largest telephone company.
http://www.bloomberg.com