A successful bid would make SingTel the second biggest telecommunications company in Asia Pacific and the region's largest mobile-phone operator, with a presence in five countries.
SingTel now has 6 million subscribers in Singapore and other Asian nations, such as the Philippines and Thailand. With Optus, it would gain 3.4 million Australian subscribers.
A successful bid would also give SingTel comprehensive data networks to tackle its bigger competitor Telstra Corp, the Australian Financial Review said, without citing sources.
Meanwhile, Telstra CEO Ziggy Switkowski was cited to say that he remained confident of Telstra's position in the domestic market as well as in the region.
SingTel offered as much as A$17.2 billion (US$8.6 billion) to buy out Optus. Investors can choose to accept 1.66 SingTel shares for every Optus share, or A$2.25 in cash and 0.8 of a SingTel share for each Optus share held. A third option would value each Optus share at 0.54 SingTel shares, plus A$2 cash and A$0.45 in SingTel bonds.
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