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Blackstone Group LP And Consortium Offers To Buy Singapore Telecommunications Ltd's Australian Satellite Business-Reuters

Thursday, 8 Aug 2013 11:12pm EDT 

Reuters reported that Singapore Telecommunications Ltd has received two offers for its Australian satellite business in the final round of the bidding, including one from U.S.-listed Intelsat SA. Both offers came in below the AUD2 billion ($1.8 billion) reserve price set for the auction and SingTel will decide at a board meeting next week whether to divest the business through an initial public offering (IPO) or ask suitors to improve their bids. The second offer came from a consortium made up of Blackstone Group LP, TPG Capital and Malaysia's MEASAT Global, the sources said. TPG and SingTel did not respond to emails seeking comment. Blackstone, Intelsat and MEASAT declined to comment. 

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