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Singtel sells Australia cellphone towers to fund 5G expansion

Singapore telco to net $1.37bn from sale as it plans regional data center push

Singtel is looking to expand its data center business in Southeast Asia as the pandemic boosts demand for data-related services.   © Reuters

SINGAPORE -- Singapore Telecommunications is selling part of its overseas mobile network infrastructure to fund a rollout of 5G next-generation technology while the company also looks to expand its data center business in Southeast Asia.

The telco on Friday announced that it will sell a 70% stake in Australia Tower Network for A$1.9 billion ($1.37 billion), which includes the sale of 2,312 cellphone towers and rooftop sites.

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