SYDNEY, June 26 Private equity firm TPG Capital
is involved in two separate bids for Singapore
Telecommunications Ltd's Australian satellite unit, a
business valued at more than A$2 billion ($1.9 billion), the
Australian Financial Review reported.
TPG was involved in a bid with Blackstone Group as
well as separate one with Malaysian satellite business MEASAT,
the newspaper said in its online edition.
TPG declined to comment.
Trade buyer Eutelsat Communications SA and fellow
private equity firm KKR also took part in the first
round bids, AFR said.
SingTel, Southeast Asia's largest telecom operator, has put
the satellite business of its Australian unit Optus on sale as
it battles tepid growth in its key markets of Singapore and
Reuters sources have said that other bidders include Asia
Satellite Telecommunications Holdings Ltd, Intelsat
, Sky Perfect Jsat Holdings Inc, Britain's
Inmarsat, Carlyle Group and SES.
Optus has circulated an information memorandum for the
business to interested parties, and will provide more details
next month, when selected bidders submit final bids, the
Optus Satellite operates five satellites, with another
scheduled for launch in 2013. SingTel acquired the satellite arm
when it bought Optus in 2001 for $14 billion.