Singapore Telecom (Z74.SG) extended its gains after sources tell Dow Jones Newswires that the telco firm plans to float part of its Australian unit Optus possibly as early as 1H10.
People familiar with the situation say SingTel wants to sell around 25% of Optus through an IPO in Australia that could raise about A$4 billion ($5.16 billion).
SingTel could use the proceeds to create a war-chest for acquisitions and expansion in markets outside Australia and Singapore.
