Australian operator Optus’ parent company Singtel has agreed to sell a 70 percent stake in Australia Tower Network (ATN), a subsidiary which operates Optus’ passive telecom tower infrastructure, to AustralianSuper. The transaction comprises 2,312 mobile network towers and rooftop sites. Singtel expects net cash proceeds after transaction costs of AUD 1.9 billion.
Under the terms of the deal, Optus will have continued access to the sites through a long-term lease agreement with ATN. Optus will be the anchor tenant for 565 new BTS sites to be built over the next three years forming an integral part of Optus’ 5G network.
AustralianSuper believes that “ATN is a great addition to AustralianSuper’s AUD 24 billion infrastructure portfolio”.
The transaction is scheduled for completion by end-October.
