Singapore Telecommunications (SingTel) has received at least two offers for its Australian satellite business in the final round of the bidding process, including one from U.S.-listed Intelsat SA, sources familiar with the matter said. SingTel, Southeast Asia's largest telecom operator, has been seeking a sale of the satellite division of its Australian unit Optus since a strategic review of the asset in March.It wants to use the sale proceeds in fast-growing emerging markets and set a reserve price of A$2 billion ($1.8 billion) for the business.Intelsat, the world's biggest operator of satellite services, made their offer ahead of this week's bid deadline, according to one of the two sources.The second offer came from a consortium made up of Blackstone Group LP, TPG Capital and Malaysia's MEASAT Global, the second source said.
The Blackstone Group L.P. (Blackstone), is a manager of private capital and provider of financial advisory services. Shares of BX traded higher by 1.05% or $0.24/share to $23.00. In the past year, the shares have traded as low as $13.04 and as high as $24.31. On average, 5100190 shares of BX exchange hands on a given day and today's volume is recorded at 2742136.
Shares of I fell by 0.31% or $-0.0733/share to $23.79. In the past year, the shares have traded as low as $16.90 and as high as $26.80. On average, 389606 shares of I exchange hands on a given day and today's volume is recorded at 21087.
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