Singapore-based Singtel wants to sell more than 30 per cent of Optus. Photo: ChatGPTAustralia’s telecommunications landscape may soon see major change, as Optus owner Singtel Group confirmed that it was preparing to sell a major stake in the company to private investors after several horror years in which Optus has racked up mounting financial liabilities. And in 2024, Optus said it was in talks to sell part of its share to infrastructure investor Brookfield Asset Management, but those negotiations collapsed. And while Singtel was mulling the partial sale of Optus months ago, confirmation of the latest deal comes as Optus faces yet more financial and reputational liability after ACMA commenced legal proceedings against the company, alleging 1,005 legal breaches that could cost it $250 million. Singtel Group has since been shifting its business towards AI and undertaking an asset recycling program that has included selling a $1.11 billion (S$1 billion) stake in Thai energy firm Gulf Development, and selling a $1.66 billion (S$1.5 billion) stake in India’s Bharti Airtel.