Optus, owned by Singapore Telecommunications, is reducing its stake in Australian telecommunications infrastructure by selling approximately 340 mobile towers and rooftop sites to Waveconn. The sale aims to unlock capital for Optus, allowing the company to focus on other strategic initiatives. Optus is a major telecommunications provider in Australia, delivering a range of services including mobile, internet, and entertainment. Waveconn is an infrastructure developer focused on the telecommunications sector.
Waveconn, which is owned by Canadian pension fund Omers, is one of Australia’s largest providers of telco infrastructure. The company owns and operates a portfolio of towers and rooftop sites across the country, serving major mobile network operators. Waveconn will maintain and operate the acquired sites, leasing them back to Optus to ensure continuity of mobile phone services for Optus customers. Optus currently utilises over 900 of Waveconn’s mobile sites.
The agreement ensures Optus will continue to provide mobile services without interruption. This sale comes as the telecommunications industry sees increasing separation of infrastructure ownership from service provision. Other key players in the Australian telco infrastructure market include Amplitel, majority-owned by Telstra, and Indara, a joint venture between Australian Super and Optus.
The financial details of the transaction have not been disclosed. Optus’ decision reflects a strategic move to optimise its capital allocation and focus on its core service offerings while leveraging Waveconn’s expertise in infrastructure management.
