AustralianSuper reportedly is pushing Singtel-owned Optus to move ahead with a plan to build more than 500 new towers for Australia Tower Network (ATN), which is majority owned by the investment fund.
The Australian Financial Review reported Optus has been unable to identify locations for deploying the towers, which means it likely won’t meet deadlines.
An Optus representative told the newspaper it is working with the tower company to address key matters, with discussions ongoing.
Singtel in 2021 raised AUD1.9 billion ($1.3 billion) from the sale of a 70 per cent stake in ATN to AustralianSuper, which manages the towers. Optus uses the towers under a long-term lease agreement.
The deal covered 2,312 mobile network towers and rooftop sites, and required Optus to build 565 new towers over the first three years of the contract, with Optus to be the anchor tenant.
ATN also acquired Macquarie Asset Management’s domestic tower company Axicom in an auction in 2022 for AUD3.6 billion. Axiom owns and operates about 2,000 towers across Australia.
In June 2021, Telstra sold a 49 per cent stake in its infrastructure unit, with more than 8,000 towers, to an Australian consortium for AUD2.8 billion.
The post Optus under pressure over failure to build new ATN sites appeared first on Mobile World Live.
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