Singtel is open to adding a local partner to its Optus operation in exchange for equity in the carrier.
The Singtel Group, Optus’ owner, announced the decision to the SGX exchange today along with its financial results for the full-year to March 31, 2026.
In its statement, Singtel said that it was open to engaging with “strategic local partners who can bring complementary capabilities and expertise” as part of ongoing efforts to find opportunities to improve Optus’ performance.
“To this end, the group is open to working with potential Australian partners that align with its objectives of ensuring that Optus continues to be a strong alternative operator in the industry, providing a reliable and trusted critical service to all Australians,” it said.
“Singtel contemplates a like-minded long-term local partner owning a meaningful minority stake in Optus.”
The company said that it remained committed to Australia “for the long term”.
“The group’s focus there continues to be on working closely with the Optus board and management to strengthen Optus’ operational capabilities and resilience, and enhance its role as a critical services provider,” the company added.
An Optus spokesperson directed iTnews back to Singtel when asked for additional comment.
Optus grew its operating revenue 2.1 percent to $8.34 billion for the year driven by customer growth in its prepaid division and income from its regional network sharing arrangements.
However, Singtel reported that its Australian subsidiary experienced an “exceptional loss, arising from provisions made for regulatory and remediation expenses and costs related to the retail store buyback.”
In an accompanying statement, Optus reported that its EBITDA increased six percent year-on-year to reach $2.36 billion.
It further reporting roughly $1.5 billion in its networks and IT systems in the year to March 31, 2026.
Optus chief executive Stephen Rue also provided a progress report on steps that the company had taken in response to the September outage that led to triple zero call failures that have since been linked to two fatalities.
He said that the company had introduced more automated call testing and established a team dedicated to monitoring triple zero calls on its network. Customer service staff have also been given access to a direct escalation mechanism to raise concerns with the team in a bid to spot problems with its triple zero service sooner.
Rue also said that the carrier’s efforts to address Kerry Schott independent review of the September out incident and its 21 recommendations were “well underway”.
“As a provider of critical national infrastructure, we are continuing to invest heavily in the resilience of our network and IT systems, including in the expansion of our 5G network. We are strengthening security and data protections and expanding coverage and performance to support customers, businesses and the broader economy,” Rue said.
