Singtel’s Australia Tower Network, AustralianSuper to acquire Axicom for $3.63b

Following the acquisition, Singtel’s shareholding in the merged ATN-Axicom biz will be 18%.

Singtel-owned Australia Tower Network and AustralianSuper will acquire the Australian telecommunications tower infrastructure provider Axicom for $3.63b (A$3.58b).

Following the acquisition, Singtel said its shareholding in the merged ATN-Axicom business will be 18%.

Meanwhile, AustralianSuper which already acquired a 70% stake in ATN from Singapore in November 2021, will see its stake rise to 82% after the acquisition.

Axicom owns and operates approximately 2,000 telecommunication sites located in metro and outer-metro locations across all eight states and territories and major cities in Australia.

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