Two more private equity firms to bid for SingTel's $1.9b Aussie arm

First round of offers are until 14 June.

According to a report by Reuters, private equity firms KKR and Carlyle Group are among the suitors lining up bids for Singapore Telecommunications Ltd's (STEL.SI) Australian unit, Optus Satellite, people familiar with the matter said, a business valued at more than A$2 billion ($1.9 billion).

SingTel, Southeast Asia's largest telecom operator, is battling tepid growth in its key markets of Singapore and Australia, and the funds raised from the sale would help it plough cash into faster-growing businesses.

France's Eutelsat Communications SA, Blackstone Group (BX.N) and Providence Equity Partners are also expected to bid, the people said. SingTel is inviting first round offers by June 14, one of the people said.

Eutelsat (ETL.PA) has lined up a corporate adviser, while KKR & Co (KKR.N) and Carlyle (CG.O) are discussing deal financing with banks, the people added.

Here's more from Reuters.

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